The Perpetual Life Insurance Co is trying to sell you an investment policy that will pay you

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The Perpetual Life Insurance Co is trying to sell you an investment policy that will pay you and your heirs $14,113 per year forever. Suppose the Perpetual Life Insurance Co. told you the policy costs $187,666. At what interest rate would this be a fair deal? Just enter the number in percentages up to 2 decimal points. Do not enter % in the answer box?
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Related Book For  answer-question

Corporate Finance Core Principles and Applications

ISBN: 978-1259289903

5th edition

Authors: Stephen Ross, Randolph Westerfield, Jeffrey Jaffe, Bradford Jordan

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