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How to solve this using a financial calculator : Suppose you pay $41,625 for an annuity that will pay you $5,000 per year at the
How to solve this using a financial calculator:
Suppose you pay $41,625 for an annuity that will pay you $5,000 per year at the end of each of the next 15 years. What annual rate of return will you earn on this investment?
a) 8.46% d) 11%
b) 9.18% e) 15.18%
c) 12%
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