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Assume that you own an annuity that will pay you $23,000 per year for 10 years, with the first payment being made today. You need
Assume that you own an annuity that will pay you $23,000 per year for 10 years, with the first payment being made today. You need money today to open a new restaurant, and your uncle offers to give you $185,000 for the annuity. If you sell it, what rate of return would your uncle earn on his investment?
Group of answer choices
A) none of the answers is correct
B) 3.36%
C) 6.06%
D) 7.52%
E) 5.20%
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