An investment offers $6,700 per year for 15 years, with the first payment occurring 1 year from now. Assume the required return is 8 percent.
Requirement 1:
What is the value of the investment today? (Enter rounded answer as directed, but do not use rounded numbers in intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).)
Present value $
Requirement 2:
What would the value be if the payments occurred for 40 years? (Enter rounded answer as directed, but do not use rounded numbers in intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).)
Present value $
Requirement 3:
What would the value be if the payments occurred for 75 years? (Enter rounded answer as directed, but do not use rounded numbers in intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).)
Present value $
Requirement 4:
What would the value be if the payments occurred forever? (Enter rounded answer as directed, but do not use rounded numbers in intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).)
Present value $