Jones expects an immediate investment of

$117,230.40

to return

$21,000

annually for seven years, with the first payment to be received one year from now. What rate of interest must Jones earn? (PV of $1. FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided. Round "Table Factor" to 4 decimal places.)\ \\\\table[[Present Value,Annuity Payment,Table Factor,Interest Rate],[,,?,

%

Jones expects an immediate investment of $117,230.40 to return $21,000 annually for seven years, with the first payment to be received one year from now. What rate of interest must Jones earn? (PV of \$1, FV of \$1, PVA of \$1, and FVA of \$1) (Use oppropriate factor(s) from the tables provided. Round "Table Factor" to 4 decimal places.)