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Time Value of Money: Present Value of a Perpetuity
A perpetuity pays a fixed amount forever. Because payments never end, you can't sum them one by one — but the geometric series collapses to a single division:
A preferred stock pays a fixed $4.50 annual dividend. If the required return is 6%, its value is closest to:
✓ Correct — PV = 4.50 / 0.06 = $75.00. Preferred stock with a fixed dividend is valued as a perpetuity.
How it works
A 180-day sequence that covers the full Level I curriculum in exam-weighted order. Each pill builds on the last.
Pick your exam window
Tell us when you sit the exam. We schedule the sequence backwards from that date, with review weeks built in before exam day.
Open one email a day
Each pill is one concept, one formula (when there is one), and one exam-style question with a worked answer. Readable in under five minutes, on your phone, on the train.
Reply to test yourself
Weekly recap emails quiz you on the last seven pills. Miss a question and that concept re-enters your queue — spaced repetition, without another app to install.
The full curriculum, weighted like the exam
Pills are distributed to mirror official topic weights, so your daily effort matches how points are actually awarded.
Topic weights per the CFA Institute Level I exam. Verify current weights at cfainstitute.org before your sitting.
Simple pricing
Start free. Upgrade if the format works for you — most people know within a week.
Full program
$12 / month · or $99/year
- Complete 180-pill sequence
- Weekly recap quizzes with spaced repetition
- Formula sheet PDF, updated monthly
- Exam-countdown review weeks
Questions candidates ask
Is this a replacement for a full prep course?
No — it's the layer that keeps you consistent. Pills work best alongside your main study material, turning dead minutes (commute, coffee, queue) into review reps that compound over months.
Is your content official CFA Institute material?
No. All pills are original content written to cover the Level I learning outcomes. We are not affiliated with or endorsed by CFA Institute. CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
What if I fall behind?
You can't. The sequence is paced to your exam date, and pills wait in your inbox — read three on Sunday if you missed the week. Weekly recaps catch anything that slipped.
Can I cancel?
Anytime, in one click from any email. If you cancel, you keep everything already delivered to your inbox.
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