Annuity Due

Dan9902

New member
Joined
Mar 28, 2020
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6
You are asked to select one of the following prizes:
  1. A one time payment of $100,000 today,
  2. Payments of $7656 at the start of each year for 25 years,
  3. Daily payments of $17 forever beginning tomorrow.
If the given rate of interest is 6.09% per year compounded quarterly, what is the value of the third option in terms of dollars today?

Hi there I am having trouble understanding this question and how to do it. I am having trouble understanding what the forever means and what kind of unit or exponent would be used in that situation would it be 365? to figure out this question thank you for the help.
 
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