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Tumpic Investments will pay you $2000 a year for 30 years in exchange for $35000 today. What interest rate are you earning on this annuity?
Tumpic Investments will pay you $2000 a year for 30 years in exchange for $35000 today. What interest rate are you earning on this annuity?
a) 4.52% b) 3.90% c)5.22% d)6.13%
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