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Professor's Annuity Corp. offers a lifetime annuity to retiring professors. For a payment of $84,000 at age 80, the firm will pay the retiring professor

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Professor's Annuity Corp. offers a lifetime annuity to retiring professors. For a payment of $84,000 at age 80, the firm will pay the retiring professor $9,000 a semi-annual until death. If the professor's remaining life expectancy is 10 years, what is effective annual interest rate on this annuity? Multiple Choice 18.14% O 11.32% 17.38% R 69%

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