The maybe pay life insurance co is trying to sell you an, Financial Management

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The maybe pay life insurance co is trying to sell you an

Calculating Perpetuity Values

The Maybe Pay Life Insurance Co. is trying to sell you an investment policy that will pay you and your heirs $20,000 per year forever. Suppose a sales associate told you the policy costs $465,000. At what interest rate would this be a fair deal? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)

Interest rate %

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