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Problem 9-34 Yield on investment [LO9-4] C. D. Rom has just given an insurance company $32,500. In return, he will receive an annulty of $3,800

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Problem 9-34 Yield on investment [LO9-4] C. D. Rom has just given an insurance company $32,500. In return, he will receive an annulty of $3,800 for 20 years. At what rate of return must the insurance company Invest this $32,500 in order to make the annual payments? Use Appendix D for an approximate answer, but calculate your final answer using the financial calculator method. (Do not round Intermediate calculations. Round your final answer to 2 decimal places.) Rate of return 96

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