Smith has 100000 with which she buys a perpetuity on january 1,2005.Suppose that i=0.045 and...
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Smith has 100000 with which she buys a perpetuity on january 1,2005.Suppose that i=0.045 and the perpeuity has annual payments begining january 1,2006.The first three payments are 2000 each,the next three payments are 2000(1+r)each,....,increasing forever by a factor of 1+r every three years.What is r ?
(Please post with mathematical formulas)
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