An annuity costs $185,000 today and provides monthly payments of $950 for 40 years.The first payment occurs 1 month from today.What annual rate of return does this annuity offer?
A) 5) 33%
B) 5) 47%
C) 5) 16%
D) 4) 79%
E) 4) 56%
Correct Answer:
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