Perpetuities are also called annuities with an extended or unlimited life. based on your understanding of perpetuities, answer the following questions. which of the following are characteristics of a perpetuity? check all that apply. the principal amount of a perpetuity is repaid as a lump-sum amount. a perpetuity continues for a fixed time period. the present value of a perpetuity is calculated by dividing the amount of the payment by the investor’s opportunity interest rate. in a perpetuity, returns—in the form of a series of identical cash flows—are earned.