What annual payment must you receive in order to earn a 6.5% rate of return on a perpetuity that has a cost of $4,800?   a. $20.28     b. $292.96     c. $312.00     d. $156.00     e. $738.46

Financial Accounting Intro Concepts Meth/Uses
14th Edition
ISBN:9781285595047
Author:Weil
Publisher:Weil
ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications
Section: Chapter Questions
Problem 20E
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What annual payment must you receive in order to earn a 6.5% rate of return on a perpetuity that has a cost of $4,800?
  a. $20.28  
  b. $292.96  
  c. $312.00  
  d. $156.00  
  e. $738.46
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