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Live Forever Life Insurance Co. is selling a perpetuity contract that pays $700 monthly. The first payment is expected in 1 month from today. The contract currently sells for $78,000. The monthly return on this investment is percent; the APR is percent; and the effective annual rate is percent. Try to keep computed rates in the calculator when making calculations used in subsequent steps of the problem. Alternatively, if you round rates used in intermediate steps of the problem, make sure to round them to at least 8 decimal places

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Basic Finance, Finance

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