3) You just paid $350,000 for a policy that will pay you and your heirs $12,000 a year forever. What rate of return are you earning on this policy? (2 Marks) 4) Aunt Clarisse has promised to leave you an annuity that will pay $60 next year and grow at an annual rate of 4% . The payments are expected to go on indefinitely and theinterest rate is 9%. What is the value of the growing perpetuity? And what is meant bygrowing perpetuity and what is the difference between a growing perpetuity and a growing annuity