I am pretty sure -44 what you have up there is correct.
0.65 =
6/10 = 0.6
+
5/100 = 0.05.
Add: 0.6 + 0.05 = 0.65.
Hope this helped☺☺
Answer:
the annual payment received is 15.44
Step-by-step explanation:
The computation of the annual payment received is shown below:
As we know that
Perpetuity = Payment ÷ rate of return
$245.1 = Payment ÷ 6.3%
So, the payment is
= $245.1 × 6.3%
= 15.44
Hence, the annual payment received is 15.44
We simply apply the above formula so that the annual amount could come
Step-by-step explanation:
If you have any questions about the way I solved it, don't hesitate to ask me in the comments below ;)
