At what interest rate would this be fair deal

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Reference no: EM132009859

Curly’s Life Insurance Co. is trying to sell you an investment policy that will pay you and your heirs $44,000 per year forever. A representative for Curly’s tells you the policy costs $690,000.

At what interest rate would this be a fair deal? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)

Interest rate %

Reference no: EM132009859

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