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C. D. Rom has just given an insurance company $38,500 In return, he will receive an annuity of $5,000 for 20 years. At what rate

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C. D. Rom has just given an insurance company $38,500 In return, he will receive an annuity of $5,000 for 20 years. At what rate of return must the insurance company invest this $38,500 in order to make the annual payments? Use Appendix D for an approximate answer, but calculate your final answer using the financial calculator method Note: Do not round intermediate calculations. Round your final answer to 2 decimal places. Present value of an annuity of $1,PVIFA PVA=A[1(1/(1+i)n)]/i

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