Maybepay Life Insurance Co. is selling a perpetuity contract that pays $1,050 monthly. The contract currently sells
Question:
Maybepay Life Insurance Co. is selling a perpetuity contract that pays $1,050 monthly. The contract currently sells for $75,000. What is the monthly return on this investment vehicle? What is the APR? The effective annual return?
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Step by Step Answer:
To calculate the monthly return on the perpetuity contract you can use the formula for the monthly p...View the full answer
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Related Book For 
Fundamentals Of Corporate Finance
ISBN: 9780072553079
6th Edition
Authors: Stephen A. Ross, Randolph Westerfield, Bradford D. Jordan
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