Find the present value of the following perpetuity. Made At: end Perpetuity Payment $190 Payment Period 1 month Interest Rate 7.8% Conversion Period annually CETTO The present value is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
ChapterM: Time Value Of Money Module
Section: Chapter Questions
Problem 7P: Value of an Annuity Using the appropriate tables, solve each of the following. Required: 1....
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Find the present value of the following perpetuity.
Made
At:
end
Perpetuity
Payment
$190
Payment
Period
1 month
Interest
Rate
7.8%
Conversion
Period
annually
ETT
The present value is $
(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed)
Transcribed Image Text:K Find the present value of the following perpetuity. Made At: end Perpetuity Payment $190 Payment Period 1 month Interest Rate 7.8% Conversion Period annually ETT The present value is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed)
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