Assuming an interest rate of 10%, calculate the present value of the following streams of yearly payments
1) $1,000 per year, forever, with the first payment one year from today
2) $500 per year, forever, with the first payment two years from today
3) $2,420 per year, forever, with the first payment three years from today
I do not know how to encorporate the time factor to this problem - I know the forumla is
PV = C/R - so I know that a = 1000/0.1 = 10,000