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Determine What rate of return would be earning

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Problem 1: 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 $15,770.41 that will pay them $2,500 per year for 20 years. They don't have the slightest idea what return they would be making on their investment of $15,770.41. What rate of return would they be earning?

Reference no: EM132821064

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