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The Perpetual Life Insurance Co. is trying to sell you an investment policy that will pay you and your heirs $13,000 per year forever. If the required return on this investment is 4.8 percent, how much will you pay for the policy? (Round your answer to 2 decimal places, e.g., 32.16.) Present value $ Suppose the Perpetual Life Insurance Co. told you the policy costs $280,000. At what interest rate would this be a fair deal? (Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Interest rate %

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92813707

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