Two perpetuities have the same annual effective interest rate. Perpetuity A pays $ 4 at the end of each year for the first 20 years and then $ 2 at the end of each year thereafter. Perpetuity B is a perpetuity due which has a level annual payment of $ 3. At time $t = {0}$, the present value of Perpetuity A is equal to that of Perpetuity B. What is the effective annual interest rate, $i$?

$i$ = %