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Live Forever Life Insurance Co. is selling a perpetuity contract that pays $1,550 monthly. The contract currently sells for $62,000. Required: (a) What is the
| Live Forever Life Insurance Co. is selling a perpetuity contract that pays $1,550 monthly. The contract currently sells for $62,000. |
| Required: | |
| (a) | What is the monthly return on this investment vehicle? |
| (b) | What is the APR? (Do not round your intermediate calculations.) |
| (c) | What is the effective annual rate? (Do not round your intermediate calculations.) |
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Routledge Handbook Of Financial Technology And Law
Authors: Iris Chiu, Gudula Deipenbrock
1st Edition
0367344149, 978-0367344146
