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Your insurance agent is trying to sell you an annuity that costs $65,000 today. By buying this annuity, your agent promises that you will receive
Your insurance agent is trying to sell you an annuity that costs $65,000 today. By buying this annuity, your agent promises that you will receive payments of $1,200 a quarter for the next 25 years. What is the rate of return on this investment per year? (please keep four decimals in the intermediate steps) A. 5.24 percent B. 3.47 percent C. 1.38 percent D. 5.50 percent None of the above OE
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