As a result of winning the gates energy innovation award, Ask an Expert

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As a result of winning the Gates Energy Innovation Award, you are awarded a growing perpetuity. The first payment will occur in a year and will be for $30,000. You will continue receiving monetary awards annually with each award increasing by 4 percent over the previous award, and these monetary awards will continue forever. If the appropriate interest rate is 11 percent, what is the present value of this award?

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Financial Management, Finance

Category:- Financial Management
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