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An insurer requires $400,000 to provide a guaranteed annuity of $50,000 per year for 10 years, with the first payment in one year. What is

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An insurer requires $400,000 to provide a guaranteed annuity of $50,000 per year for 10 years, with the first payment in one year. What is the rate of return on this annuity? 4.28% 6.28% 3.28% 5.28%

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