devie4496 devie4496
  • 02-06-2023
  • Business
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What is the present value of $3,000 paid each year forever, assuming a discount rate of 8% and the first payment occurs one year from now? Equivalently: What amount would you have to invest today at an interest rate of 8% to generate an annual payment of $3,000 forever? Please round your answer to the nearest hundredth.

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