The Maybe Pay Life Insurance Co. is trying to sell you an investment policy that will pay
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Question:
The Maybe Pay Life Insurance Co. is trying to sell you an investment policy that will pay you and your heirs $26,000 per year forever. If the required return on this investment is 5.3 percent, how much will you pay for the policy?(Do not round intermediate calculations. Round your answer to 2 decimal places, e.g., 32.16.) |
Present value | $
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