Your insurance agent is trying to sell you an annuity

$17$

that costs $$80,000$ today. By buying this annuity, your agent promises that you will receive payments of $$445$ per month for $30$ years. What is the rate of return expressed as an APR on this investment?

Multiple Choice

$5\mathrm{.}32\%$

$6\mathrm{.}07\%$

$4\mathrm{.}91\%$

Ms

craw

$$ Prev

$17$

of $30$