Larry's Life Insurance Co. is trying to sell you an investment policy that will pay you and your heirs $40,000 per year forever. A representative for the company tells you the policy costs $650,000. 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.) 1.29 points Interest rate % Skipped eBook