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Larry's Life Insurance Co. is trying to sell you an investment policy that will pay you and your heirs $33,000 per year forever. Larry's Life

Larry's Life Insurance Co. is trying to sell you an investment policy that will pay you and your heirs $33,000 per year forever.
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Larry's Life Insurance Co. is trying to sell you an investment policy that will pay you and your heirs $33,000 per year forever. A representative for the company tells you the policy costs $580,000. At what discount rate would this be a fair deal? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Interest rate %

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