Live Forever Life Insurance Co. Is selling a perpetuity contract that pays $1,550 monthly The contract currently sells for $116,000 What is the monthly return on this investment vehicle? (Enter your answer as a percent rounded to 2 decimal places, e.9., 32:16.) b. What is the APR? (Do not round Intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e... 32.16.) What is the effective annual return? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e... 3216) C. 0.01% a Monthly return b. APR 30 EAR Elliott Credit Corp. wants to earn an effective annual return on its consumer loans of 143 percent per year. The bank uses daily compounding on its loans. What interest rate is the bank required by law to report to potential borrowers? (Use 365 days a year. Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g. 32.16.) Interest rate