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Annuity interest rate) Your folks just called and would like some advice from you. An insurance agent just called them and offered them the opportunity

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Annuity interest rate) Your folks just called and would like some advice from you. An insurance agent just called them and offered them the opportunity to purchase an annuity for $11,993.89 that will pay them $2,000 per year for 10 years. They don't have the slightest idea what return they would be making on their investment of $11,993.89. What rate of return would they be earning? The annual rate of return your folks would be earning on their investment is % (Round to two decimal places.)

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