Maybepay Life Insurance Co. is selling a perpetual annuity contract that pays $2,900 monthly. The contract currently sells for $327,000.

Requirement 1:

What is the monthly return on this investment vehicle? (Round your answer as directed, but do not use rounded numbers in intermediate calculations. Enter your answer as a percent rounded to 2 decimal places (e.g., 32.16).)

Monthly return

%

Requirement 2:

What is the APR? (Round your answer as directed, but do not use rounded numbers in intermediate calculations. Enter your answer as a percent rounded to 2 decimal places (e.g., 32.16).)

Annual percentage rate

%

Requirement 3:

What is the effective annual return? (Round your answer as directed, but do not use rounded numbers in intermediate calculations. Enter your answer as a percent rounded to 2 decimal places (e.g., 32.16).)

Effective annual return

%