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22. Fidelity Mutual (an insurance company) has offered you a single premium annuity that will pay you $12,000 at the end of each year for

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22. Fidelity Mutual (an insurance company) has offered you a single premium annuity that will pay you $12,000 at the end of each year for the next 15 years. If you must pay $109,296 today for this annuity, what is your expected rate of return? a. 10% b. 8% c. 9% d. 7%

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