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23) You are wondering whether to buy an annuity just offered to you by Calvin's Crazy Credit Company (The 4C's). For a mere $5,000 today,

23) You are wondering whether to buy an annuity just offered to you by Calvin's Crazy Credit Company (The "4C's"). For a mere $5,000 today, 4Cs is offering to pay you $500 per year for the next 12 years. What annual rate of interest is 3F offering on this investment?
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23) You are wondering whether to buy an annuity just offered to you by Calvin's Crazy Credit Company (The " 4Cs ). For a mere $5,000 today, 4C s is offering to pay you $500 per year for the next 12 years. What annual rate of interest is 3F offering on this investment

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