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For this question, and the next one (three in all), Frozenentyme, Fierce, Penner & Smythe, the big brokerage firm, has offered to sell you an
For this question, and the next one (three in all), Frozenentyme, Fierce, Penner & Smythe, the big brokerage firm, has offered to sell you an investment that will pay you $2,000 each year for the next 25 years. The first payment will beone year afteryou buy the investment.
- If their price is actually $25,000 for the investment,what rateof return will you be getting if you should buy this investment today?
NOTE: Please make sure to enter your answer as apercentage.That is, forten percententer: 10 or 10.00,etc.Do NOTuse the "%" sign, anddo notenter as a decimal ("0.100").Also, do not use any other punctuation.
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