Your insurance agent is trying to sell you an annuity that costs $100,000 today. By buying this annuity, your agent promises that you will receive payments of $384.40 a month for the next 40
Years. What is the rate of return on this investment?
A) 3.45%
B) 3.47%
C) 3.50%
D) 3.52%
E) 3.55%
Correct Answer:
Verified
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