Problem 6-23 Valuing Perpetuities (L01) Live Forever Life Insurance Co. is selling a perpetuity contract that pays $1,050 monthly. The contract currently sells for $106,000. 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.) a. Monthly return b. APR % % % c. EAR Problem 6-13 Calculating APR (L04) Find the APR, or stated rate, in each of the following cases (Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.): Stated Rate (APR) % Effective Rate (EAR) 11.8% Number of Times Compounded Semiannually Monthly Weekly Infinite 12.7 10.4 nces 14.1