Annual rate of return your folks would be earning

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Reference no: EM131572931

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 ?$8,434.22 that will pay them ?$1,500 per year for 15 years. They? don't have the slightest idea what return they would be making on their investment of $8,434.22 . What rate of return would they be? earning?

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

Reference no: EM131572931

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