Annuity interest rate your folks just called and would like, Ask an Expert

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(Annuity interest rate) Your folks just called and would like some advice from you. An insurance agent just called them and offered them the opportunity to purchase an annuity for $6,903.27 that will pay them $1,000 per year for 25 years. They don’t have the slightest idea what return they would be making on their investment of $6,903.27.

What rate of return would they be earning? The annual rate of return your folks would be earning on their investment is _____% (Round to two decimal places)

Please show the formula for the answer.

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M91669310

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