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10755315I need help finding the monthly return, annual percentage

rate and effective annual return for this problem.

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Maybepay Life Insurance Co. is selling a perpetual annuity contract
that pays $3,700 monthly. The contract currently sells for $340,000.
a. What is the monthly return on this investment vehicle? (Do not round
intermediate calculations and enter your answer as a percent
rounded to 2 decimal places, e.g., 32.16.)
b. What is the APR? (Do not round intermediate calculations and
enter your answer as a percent rounded to 2 decimal places, e.g.,
32.16.)
c. What is the effective annual return? (Do not round intermediate
calculations and enter your answer as a percent rounded to 2
decimal places, e.g., 32.16.)
Monthly return
Annual percentage rate
Effective annual return

Top Answer

Monthly return =... View the full answer

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