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What interest rate would be a fair deal

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Reference no: EM132563646

Question 1: The Wawaneesa Insurance Co. is trying to sell you an investment policy that will pay you and your heirs $50,000 per year forever. Suppose a sales associate told you the policy costs $550,000. At what interest rate would this be a fair deal? (Round the final answer to 2 decimal places. & show all your work)

Reference no: EM132563646

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