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Your insurance agent is trying to sell you an annuity that costs $55,000 today. By buying this annuity, your agent promises that you will receive

Your insurance agent is trying to sell you an annuity that costs $55,000 today. By buying this annuity, your agent promises that you will receive payments of $350 per month for 20 years. What is the rate of return expressed as an APR on this investment?

5.22%

4.22%

3.81%

4.57%

4.42%

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