The options for part B are:

38.65

52.18

48.31

32.85

Consider the case of the following annuities and the need to compute either their expected rate of return or duration Michael needed money for some unexpected expenses, so he borrowed $6,736.61 from a friend and agreed to repay the loan in seven equal installments of $1,250 at the end of each year. The agreement is offering an implied interest rate of 7.00% 6.09% 9.45% 8.26% ekson, has hired a financial planner for advice on retirement. Considering Jackson's current expenses and expected future lifestyle changes, the financial planner has stated that once Jackson crosses a threshold of $9,952,885 in savings, he will have enough money for retirement. Jackson has nothing saved for his retirement yet, so he plans to start depositing $55,000 in a retirement fund at a fixed rate of 7.00% at the end of each year. It will take years for Jackson to reach his retirement goal