pls round to the 2 decimal places (Annuity interest rate) Your folks just...
60.1K
Verified Solution
Link Copied!
Question
Finance
pls round to the 2 decimal places
(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 $17,077.23 that will pay them $2,000 per year for 15 years. They don't have the slightest idea what return they would be making on their investment of $17,077.23. 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 ) Check
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
