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FINANCE Chapter 6 Homework KQuestion 5 (of 21) 5. The Maybe Pay Life Insurance Co. is trying to sell you an investment policy that will

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FINANCE Chapter 6 Homework KQuestion 5 (of 21) 5. The Maybe Pay Life Insurance Co. is trying to sell you an investment policy that will pay you and your heirs $33,000 per year forever. Suppose a sales associate told you the policy costs $478,000. At what interest rate would this be a fair deal? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Interest rate eBook & Resources eBook: 6.2. Valuing Level Cash Flows: Annuities and Perpetuities

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