Suppose your parents are getting ready to retire and decide to convert some of their retirement portfolio,

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Suppose your parents are getting ready to retire and decide to convert some of their retirement portfolio, which is invested in the stock market, into an annuity that guarantees them a fixed annual income. Their insurance asks for $

425, 000

for an annuity that guarantees to pay them $

65, 000

a year for

12

years. What is the rate of return on the annuity?

Posted Date: May 19, 2024 03:02 AM

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Suppose your parents are getting ready to retire and decide to convert some of their retirement portfolio,

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