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Jenny has just given an insurance company $64,525. In return, she will receive an annuity of $8,618 for 13 years. a. At what rate of
Jenny has just given an insurance company $64,525. In return, she will receive an annuity of $8,618 for 13 years. a. At what rate of return must the insurance company invest this $64,525 to make the annual payments? (Use a Financial calculator or Excel to arrive at the answers. Round the final answer to 3 decimal places. Submit your calculations on Moodle) Rate of return % b. What rate of return is required if the annuity is payable at the beginning of each year? (Use a Financial calculator or Excel to arrive at the answers. Round the final answer to 2 decimal places. Submit your calculation on Moodle) Rate of return
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