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You recently paid $13,500 for an investment that promises to pay $675 at the end of each of the next 6 years, then an additional

You recently paid $13,500 for an investment that promises to pay $675 at the end of each of the next 6 years, then an additional lump sum payment of $19,500 at the end of the 6th year. What is the expected rate of return on this investment?

a.

6.1%

b.

8.0%

c.

10.7%

d.

10.2%

e.

9.5%

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