Computing the interest rate for the annuity

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Question: Dr. Oats, a nutrition professor, invests $80,000 in a piece of land that is expected to increase in value by 14 percent per year for the next five years. She will then take the proceeds and provide herself with a 10-year annuity. Assuming a 14 percent interest rate for the annuity, how much will this annuity be?

Reference no: EM131788060

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