First of all, what is the ordinary meaning of “perpetuity?” It simply method “forever.” So in finance, what do we mean by this same concept? Well, imagine I gave you a piece of paper or certificate, and that paper promised that I would pay you a fixed amount every year, forever. That piece of paper is called a “perpetuity.”
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What Is the Present Value of a Perpetuity Formula and What Are Perpetuities?
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