What rate of return would they be earning

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Reference no: EM131578313

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 $8434.22 that will pay them $1500 per year for 15 years. They don't have the slightest idea what return they would be making on their investment of $8434.22 . What rate of return would they be earning?

Reference no: EM131578313

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