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What the annual rate of return your folks would be earning

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Reference no: EM132771249

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 ?$27,997.98 that will pay them ?$4,000 per year for 20 years. They? don't have the slightest idea what return they would be making on their investment of ?$27,997.98.

Problem 1: What rate of return would they be? earning?

Problem 2: The annual rate of return your folks would be earning on their investment is _________%

Reference no: EM132771249

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