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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