Your insurance agent is trying to sell you an annuity that costs $200,000 today.By buying this annuity,your agent promises that you will receive payments of $835.88 a month for the next 40 years.What is the rate of return on this investment?
A) 3.95%
B) 4.00%
C) 4.15%
D) 4.22%
E) 4.55%
Correct Answer:
Verified
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