What price of security if apr percent compounded quarterly

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Reference no: EM132985986

A prestigious investment bank designed a new security that pays a quarterly dividend of $5.40, in perpetuity. The first dividend occurs one quarter from today.

Problem 1:
What is the price of the security if the APR is 10.1 percent compounded quarterly? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

Reference no: EM132985986

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