Description of perpetuity

Reference no: EM13122521

1) A city sells plots in its cemetery for $1000 plus an amount calculated to provide for the costs of maintaining the grounds in perpetuity. This cost is figured at $25 per plot due at the end of each quarter. If the city can invest the funds to earn 4.8% compounded annually in perpetuity. What is the price of the plot?

Reference no: EM13122521

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