Back to Assignment Attempts Keep the Highest/2 14. Implied interest rate and period Consider the case of the following annuities, and the need to compute either their expected rate of return or duration. James needed money for some unexpected expenses, so he borrowed $5,046.69 from a friend and agreed to repay the loan five equal installments of $1,400 at the end of each year. The agreement is offering an implied interest rate of James's friend, Brandon, has hired a financial planner for advice on retirement. Considering Brandon's current expenses and expected future lifestyle changes, the financial planner has stated that once Brandon crosses a threshold of $19,388,019 in savings, he will have enough money for retirement. Brandon has nothing saved for his retirement yet, so he plans to start depositing $55,000 in a retirement fund at a fixed rate of 12.00% at the end of each year. It will take years for Brandon to reach his retirement goal. Grade It Now Save Continue Continue without saving