Question: Suppose that an annuity has a present value P = $160,000. What interest rate r would allow for perpetual annual payouts of $8,000? Round to

Suppose that an annuity has a present value P = $160,000.

Suppose that an annuity has a present value P = $160,000. What interest rate r would allow for perpetual annual payouts of $8,000? Round to two decimal places

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