14. Implied interest rate and period Consider the case of the following annuities, and the need to compute either their expected rate of return or duration Anthony needed money for some unexpected expenses, so he borrowed $3,289.13 from a friend and agreed to repay the loan in six equal installments of $300 at the end of each year. The agreement is offering an implied interest rate of Anthony's friend Sachit, has hired a financial planner for advice on retirement. Considering Sachit's current expenses and expected future lifestyle changes, the financial planner has stated that once Sachit crosses a threshold of $1,121.164 in savings, he will have enough money for retirement Sachit has nothing saved for his retirement yet, so he plans to start depositing $40,000 in a retirement fund at a fixed rate of 12.00% at the end of each year. It will take years for Sachit to reach his retirement goal