perpetual annuity

perpetual annuity
The receipt or payment of a constant annual amount in perpetuity. Although the word annuity refers to an annual sum, in practice the constant sum may be for periods of less than a year. The present value of an annuity is obtained from the formula:
P = (a × 100)/i,
where P is the present value, a is the annual sum, and i is the interest rate.

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  • Treaty of St. Mary's — The Treaty of St. Mary s (also known as the Treaty with the Miami, 1818) was signed on October 6, 1818 at Saint Mary s, Ohio between representatives of the United States and the Miami tribe. The accord contained seven articles. Based on the terms …   Wikipedia

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