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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

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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? 0.1% 2.9% 0.3% 10.0%

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