### What rate of return would they be earning

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##### Reference no: EM132185274

Stumped on this one:

?(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 ?\$17,605.94 that will pay them ?\$3,500 per year for 10 years. They? don't have the slightest idea what return they would be making on their investment of \$17,605.94. 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)

##### Reference no: EM132185274

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