Maybepay Life Insurance Co. is selling a perpetual annuity contract that pays $2,500 monthly. The contract currently sells for $331,000. 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

2.What is the present value of $3,025 per year, at a discount rate of 9 percent, if the first payment is received 10 years from now and the last payment is received 24 years from now? (Enter rounded answer as directed, but do not use rounded numbers in intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).)

What is the value today??

3.

A 10-year annuity pays $3,300 per month, and payments are made at the end of each month. The interest rate is 12 percent compounded monthly for the first six years, and 10 percent compounded monthly thereafter.

Required:

What is the present value of the annuity?