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An annuity costs $185,000 today and provides monthly payments of $650 for 40 years. The first payment occurs one month from today. What annual rate

An annuity costs $185,000 today and provides monthly payments of $650 for 40 years. The first payment occurs one month from today. What annual rate of return does this annuity offer? Select one: a. 2.88% b. 2.40% c. 3.16% d. 4.55% e. 4.22%

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