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For $125,000 Laura Croft can purchase a 15-year ordinary annuity which will pay her a yearly payment of $18,945.00 for 15 years. What is the
For $125,000 Laura Croft can purchase a 15-year ordinary annuity which will pay her a yearly payment of $18,945.00 for 15 years. What is the annual interest rate implicit in this investment? Round your answer to the nearest tenth (for example, record 0.4325 as 43.3% - but do not include the percent sign in iCollege)
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