Alex Arnold has just turned 65 . He has $100,000 to invest in a retirement annuity. One investment company has offered to pay Alex $10,000 per year for 15 years (payments to begin in one year) in exchange for an immediate $100,000 payment. If Alex accepts the offer from the investment company, what is his expected return on the $100,000 investment (assume a return that is compounded annually)? Present value tables or a financial calculator are required. Select one: a. between 7 and 8 percent b. between 6 and 7 percent c. between 5 and 6 percent d. between 8 and 9 percent