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Current Attempt in Progress In a book named Treasure, the reader has to figure out...

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Accounting

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Current Attempt in Progress In a book named Treasure, the reader has to figure out where a 2.2 pound, 24 kt gold horse has been buried. If the horse is found, a prize of $31,182 a year for 20 years is provided. The actual cost to the publisher to purchase an annuity to pay for the prize is $205,800. What interest rate (to the nearest percent) was used to determine the amount of the annuity? (Assume end-of-year payments) Round factor values to 5 decimal places, es. 1.25124. Round answer to the nearest percent, es. 5) Click here to view factor tables Interest rate Save for Later Attempts: 0 of 1 used Submit

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