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. (Do not round intermediate calculations. Round the final answer to 2 decimal places. Omit $ sign in your response.) If the required return on this investment is 6.2 percent, how much will you pay for the policy? You pay $0 Suppose the Perpetual Life Insurance Co. told you the policy costs $285,000. At what interest rate would this be a fair deal? Interest rate O % You have your choice of two investment accounts. Investment A is a 12-year annuity that features end-of-month $1,750 payments and has an interest rate of 9.2 percent compounded monthly. Investment B is an 8.7 percent continuously compounded lump-sum investment, also good for 12 years. How much money would you need to invest in B today for it to be worth as much as Investment A 12 years from now? (Do not round intermediate calculations. Round the final answer to 2 decimal places. Omit $ sign in your response.) Amount needed $ Con You receive a credit card application from Shady Banks offering an introductory rate of 2.0 percent per year, compounded monthly for the first six months, increasing thereafter to 18 percent compounded monthly. Assuming you transfer the $8,400 balance from your existing credit card and make no subsequent payments, how much interest will you owe at the end of the first year? (Do not round intermediate calculations. Round the final answer to 2 decimal places. Omit $ sign in your response.) Interest accrued $C