An investment offers $11,500 per year for 20 years, with the first payment occurring 1 year from now. If the required return is 6 percent, what is the value of the investment? What would the value be if the payments occurred 35 years? 50 years? Forever?

An investment offers $11,500 per year for 20 years, with the first

payment occurring 1 year from now. If the required return is 6 percent, what is the value of the investment? What would the value be if the payments occurred 35 years? 50 years? Forever?

 
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