Question
The Maybe Pay Life Insurance Co. is trying to sell you an investment policy that will pay you and your heirs $16197 per year forever.
The Maybe Pay Life Insurance Co. is trying to sell you an investment policy that will pay you and your heirs $16197 per year forever. Suppose a sales associate told you the policy costs $441127. At what interest rate would this be a fair deal? (round 2 decimal places)
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Managerial Accounting
Authors: Peter C. Garrison, Ray H., Noreen, Eric W., Brewer
12th Edition
0071274227, 978-0071274227
