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Alex bought a 10-year annuity-immediate with annual payments of 10,000 under an annual rate of 8%. Six years into the future, right after receiving the 6th payment from the annuity, the market interest rate fell down to 4%, so she then decided to immediately sell all of her future earnings at the new market interest rate. Find her annual yield rate.

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Financial Management, Finance

Category:- Financial Management
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