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Question 25 (4 points) You have an indexed universal life policy with a minimum guaranteed interest rate of 1.90 percent. Additional interest is credited to

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Question 25 (4 points) You have an indexed universal life policy with a minimum guaranteed interest rate of 1.90 percent. Additional interest is credited to the policy based on the investment gains of the S&P 500 stock index. The additional interest is subject to a participation rate of 75 percent and a maximum of 9.50 percent. During the current year, the S&P 500 index increased from 2,000 to 2,150. Based on this result, what overall interest rate would be credited to the policy this year? (Express your answer as a percent and round to two decimal places. For example, if your answer is 8.25 percent, you would input 8.25 rather the 0.0825). Your

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