The Maybe Pay Life Insurance Co. is trying to sell you an investment policy that will pay you and your heirs $25,000 per year forever. Suppose a sales associate told you the policy costs $470,000. At what interest rate would this be a fair deal? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 3216.) Interest rate % Big Dom's Pawn Shop charges an interest rate of 27.1 percent per month on loans to its customers. Like all lenders, Big Dom must report an APR to consumers. a. What rate should the shop report? (Do not round intermediate calcualtions. Enter your answer as a percent rounded to 1 decimal place, e.g., 32.1.) b. What is the effective annual rate? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) a. APR EAR 288.0% 1,221.48% b. You want to be a millionaire when you retire in 35 years. a. How much do you have to save each month if you can earn an annual return of 10.7 percent? (Do not round Intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) b. How much do you have to save each month if you wait 15 years before you begin your deposits? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) c. How much do you have to save each month if you wait 25 years before you begin your deposits? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g. 32.16.) a. Savings per month starting today b. Savings per month starting in 15 years c. Savings per month starting in 25 years