At what interest rate would this be a fair deal

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Reference no: EM131489022

The Maybe Pay Life Insurance Co. is trying to sell you an investment policy that will pay you and your heirs $24192 per year forever. Suppose a sales associate told you the policy costs $528363. At what interest rate would this be a fair deal? (Enter your answer as a percentage, omit the "%" sign in your response, and round your answer to 2 decimal places. For example, 0.12345 or 12.345% should be entered as 12.35.)

Reference no: EM131489022

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