What rate of return would they be earning

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Question - 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 $32,338.14 that will pay them $4,000 per year for 15 years. They don't have the slightest idea what return they would be making on their investment of $32,338.14. What rate of return would they be earning?

The annual rate of return your folks would be earning on their investment is?

Reference no: EM132834171

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