4-35. A $20,000 ordinary life insurance policy for a 22-year-old female can be obtained for annual premiums of approximately $250. This type of policy (ordinary life) would pay a death benefit of $20,000 in exchange for the annual premium paid during the lifetime of the insured person. If the average life expectancy of a 22-year-old female is 77 years, what interest rate establishes equivalence between cash outflows and inflows for this type of insurance policy? Assume all premiums are paid on a beginning-of-year basis and that the last premium is paid on the 76th birthday. (4.6.6)