Are annuities good investments? To answer this question consider the situation of John. He is 50 years old and can purchase a lifetime annuity for $100.000 The annuity pays John $8,000 per year for the rest of his life. If John lives to be 80 , what rate of retum will he earn on this investment? What if John only lives to be 74 ? If John lives to age 80 , his IRR is % per year (Round to two decimal places.)