An investor purchasing a British consol is entitled to receive annual payments from the British government forever. What is the price of a consol that pays $190 annually if the next payment occurs one year from today? The market interest rate is 4.2 percent. (Round your answer to 2 decimal places. (e. g., 32.16)) Present value $

Explanation:

The price of a consol (a type of debt issued by the goverment) is the present value of all the future payments.

A constant payment forever is known as a constant annuity to perpetuity.

The price of a constant perpetuity is calculated with the formula:

Where C is the constant payment, equal to $190 (annually forever), and r is the opportunity cost, which you assume to be equal to the market interest rate: r = 4.2%.

Substituting:

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answer; (c) canada,mexico and the united states. i do believe this is the correct answer; /// good luck