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(1 point) Janet receives a $ 10,000 life insurance benefit. If she uses the proceeds to buy an n-year annuity immediate, the annual payout will

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(1 point) Janet receives a $ 10,000 life insurance benefit. If she uses the proceeds to buy an n-year annuity immediate, the annual payout will be 1490.29. If a 2n-year annuity immediate is purchased, the annual payout will be 1018.52. Both calculations are based on an effective annual interest rate of i. Calculate i. Effective annual interest rate, i= %

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