Maybepay Life Insurance Co. is selling a perpetual annuity contract that pays $3,400 monthly. The...
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Maybepay Life Insurance Co. is selling a perpetual annuity contract that pays $3,400 monthly. The contract currently sells for $337,000. What is the monthly return on this investment vehicle? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Monthly return % What is the APR? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Annual percentage rate % What is the effective annual return? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Effective annual return %
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