Live Forever Life Insurance Co. is selling a perpetuity contract that pays $1,650 monthly. The contract currently sells for $118,000.

a.What is the monthly return on this investment vehicle?(Enter your answer as a percent rounded to 2 decimal places, e.g., 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.g., 32.16.)

c.What is the effective annual return?(Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)

monthly return%=_______

APR%=_______

EAR%=_______