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E8) Your insurance agent is trying to sell you an annuity that costs $150,000 today. By buying this annuity, your agent promises that you will

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Your insurance agent is trying to sell you an annuity that costs $150,000 today. By buying this annuity, your agent promises that you will receive monthly payments of $985 for the next 15 years, starting from a month from now. What is the effecive annual rate of return on this investment? Multiple Choice 0 2.28% o -248.65% o 0.19% Save & Help Saved

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