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Determining the annuity interest? rate

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?(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 ?$27,594.76 that will pay them ?$4,000 per year for 10 years. They? don't have the slightest idea what return they would be making on their investment of ?$27,594.76. 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: EM132491770

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