Question: Problem 6-11 Calculating Perpetuity Values [LO1] The Maybe Pay Life Insurance Co. is trying to sell you an investment policy that will pay you and

 Problem 6-11 Calculating Perpetuity Values [LO1] The Maybe Pay Life Insurance

Problem 6-11 Calculating Perpetuity Values [LO1] The Maybe Pay Life Insurance Co. is trying to sell you an investment policy that will pay you and your heirs $36,000 per year forever. Suppose a sales associate told you the policy costs $481,000. 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 References eBook & Resources Worksheet Difficulty: Basic Problem 6-11 Calculating Perpetuity Values [L011 Learning Obiective: 06-01 How to determine the future and present valive of investments with multiple cash ows Check my work

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