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  • 25-01-2024
  • Business
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California Life has just offered you a single premium annuity for $5,000 that will pay $5,144.12 per year for 20 years, the first payment being received exactly 31 years from today. What is the implied rate of return on this annuity?
a. 7%
b. 8%
c. 9%
d. 6.5%

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