The Perpetual Life Insurance Co$.$ is trying to sell you an investment policy that will pay you and your heirs $$20,000$ per year forever.

If the required return on this investment is $6\mathrm{.}2$ percent, how much will you pay for the policy? $($Round your answer to $2$ decimal places. $($e$.$g$.,32\mathrm{.}16))$

Present value $

Suppose the Perpetual Life Insurance Co$.$ told you the policy costs $$520,000.$ At what interest rate would this be a fair deal? $($Round your answer to $2$ decimal places. $($e$.$g$.,32\mathrm{.}16))$

Interest rate

$\%$