In 1648, a Dutch government authority issued a bond that promised to pay interest forever. Written on goatskin, five such bonds are known to exist today. Yale University owns one, andin 2015, ...
Perpetuity, in general, means “eternity.” And in finance, that concept of an everlasting state applies. A perpetuity describes a constant stream of cash with no end. But what is a perpetuity in more ...
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