What is the effective annual rate what is the monthly, Financial Management

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What is the effective annual rate what is the monthly

Live Forever Life Insurance Co. is selling a perpetuity contract that pays $1,500 monthly. The contract currently sells for $67,000. Required: (a) What is the monthly return on this investment vehicle? (b) What is the APR? (Do not round your intermediate calculations.) (c) What is the effective annual rate? (Do not round your intermediate calculations.

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Financial Management: What is the effective annual rate what is the monthly

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