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Score: u of 4 pt 7 of 12 (6 complete) Hw Score: 36%, 18 of 50 pts P6-16 (similar to) Question Help (Annuifty Interest rate)

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Score: u of 4 pt 7 of 12 (6 complete) Hw Score: 36%, 18 of 50 pts P6-16 (similar to) Question Help (Annuifty 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 $20,588.14 that will pay them $2,000 per year for 25 years. They don't have the slightest idea whatreturn they would be making on their investment of $20,588.14. What rate of return would they be earning? The annual rate f retum your folks would be earning on their investment is %. Round to two decimal places.) Enter your answer in the answer box and then click Check Answer. All parts showing Clear All 9

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