What is the interest rate of a 6-year, annual $5,000 annuity with present value of $20,000?

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What is the interest rate of a 6-year, annual $5,000 annuity with present value of $20,000?   Annuity
An annuity is a series of equal payment made at equal intervals during a period of time. In other words annuity is a contract between insurer and insurance company in which insurer make a lump-sum payment or a series of payment and, in return,...
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Finance Applications and Theory

ISBN: 978-0077861681

3rd edition

Authors: Marcia Cornett, Troy Adair

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