Your insurance agent is trying to sell you a Perpetuity that costs $100,000 today. By buying this perpetuity, your agent promises that you and your family will receive payments of $2000 per month forever. What is the monthly rate of interest on this investment?

Answer rating: 100% (QA)

PV 100000 PMT 2000 r PMT PV Where PV is th... View the full answer