资产评估理论基础(2)(16)

Growing Annuity

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Stuart Gabriel, a second-year MBA student, has just been offered a job at $80000 a year, He anticipates his salary increasing by 9 percent a year until his retirement in 40 years. Given an interest rate of 20 percent, what is the PV of his lifetime salary?

For pervious example, Harold and Helen Nash planned to make 17 identical payments in order to fund the college education of their daughter, Susan. Alternatively, imagine that they planned to increase their payments at 4 percent per year. What would their first payment be?