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The Maybe Pay Life Insurance Company is trying to sell you an investment policy that will pay you and your heirs $43,000 per year forever.

The Maybe Pay Life Insurance Company is trying to sell you an investment policy that will pay you and your heirs
$43,000 per year forever. A sales associate for the company told you the policy costs $680,000. At what interest
rate would this be a fair deal?
image text in transcribed
The Maybe Pay Life Insurance Company is trying to sell you an investment policy that will pay you and your heirs $43,000 per year forever. A sales associate for the company told you the policy costs $680,000. At what interest rate would this be a fair deal? Note: Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16

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