Score: 0 of 4 pts 7 of 12 (7 complete) HW Score: 56%, 28 of 50 pts P6-16 (similar to) Question Help (Annuity interest rate) Your folks just called and would like some advice from you. An insurance agent just called them and offered them the opportunity to purchase an annuity for $13,393.87 that will pay them $2,500 per year for 10 years. They don't have the slightest idea what return they would be making on their investment of $13,393.87. What rate of return would they be earning? The annual rate of return your folks would be earning on their investment is %. (Round to two decimal places.) O1000 10,0 100 PLU P6-17 (similar to) Question Help (Related to Checkpoint 6.1) (Loan amortization) On December 31, Beth Klemkosky bought a yacht for $120,000. She paid $12,000 down and agreed to pay the balance in 13 equal annual installments that include both the principal and 16 percent interest on the declining balance. How big will the annual payments be? a. On December 31, Beth Klemkosky bought a yacht for $120,000 and paid $12,000 down, how much does she need to borrow to purchase the yacht? $ (Round to the nearest dollar.)