If Nicki could earn 12 percent on her money by placing it in a savings account, should she place it instead in any of the annuities?

What rate of return could Nicki earn on her money if she placed it in annuity A with $8,000 payment per year and 15 years duration?

\begin{tabular}{|c|c|c|c|} \hline ANNUITY & INITIALPAYMENTINTOANNUITY(ATt=0) & AMOUNTOFMONEYRECEIVEDPERYEAR & DURATIONOFANNUITY(YEARS) \\ \hline A & $50,000 & $8,000 & 15 \\ \hline B & $50,000 & $8,500 & 12 \\ \hline C & $50,000 & $7,000 & 16 \\ \hline \end{tabular}