Live Forever Life Insurance Co. is selling a perpetuity contract that pays $1,350 monthly. The contract currently sells for $112,000.
What is the monthly return on this investment vehicle? (Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)
Monthly return % per month
What is the APR? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)
APR %
What is the effective annual return? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)
Effective annual return %