Your Insurance Agent Is Trying to Sell You an Annuity

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%