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12 Pages

### midterms solution

Course: ECON 138, Spring 2008
School: Berkeley
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Word Count: 3147

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1, Midterm Econ 138 February 21, 2008 1 Question 1 (NPV - 8 points) Consider an infinite-horizon investment project that generates return Rt in period t 0. Denote the (constant) interest rate by r. 1.1 Part a (1 point) P -t t=0 Rt (1 + r) Write down a basic formula for the NPV of this project. Solution: [1 point for correct formula, including specificed t = 0 and .] 1.2 Part b (2 points) Suppose r =...

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