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Selena receives an inheritance where she will be paid $1,000 every 24 months forever. The first payment starts immediately. Selena calculated the present value of
Selena receives an inheritance where she will be paid \$1,000 every 24 months forever. The first payment starts immediately. Selena calculated the present value of this inheritance as $7,677.39. What was the annual effective interest rate Selena used in her present value calculation? (use a percentage number, rounded to the nearest 100th, without % sign. For example, 0.123=12.3%12.3 )
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