Undying Life Insurance Company offers an investment policy that will pay you and your heirs...
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Finance
Undying Life Insurance Company offers an investment policy that will pay you and your heirs $50,000 per year forever. Suppose the company told you the policy costs $655,842. At what interest rate would this be a fair deal? (Do not include the percent sign (%). Enter rounded answer as directed, but do not use the rounded numbers in intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).
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