8. Implied interest rate and period Aa Aa Consider the case of the following annuities, and the need to compute either their expected rate of return or duration. Jorge needed money for some unexpected expenses, so he borrowed $6,668.66 from a friend and agreed to repay the loan in eight equal installments of $1,250 at the end of each year. The agreement is offering an implied interest rate of Jorge's friend, Rafael, has hired a financial planner for advice on retirement. Considering Rafael's current expenses and expected future lifestyle changes, the financial planner has stated that once Rafael crosses a threshold of $18,235,856 in savings, he will have enough money for retirement. Rafael has nothing saved for his retirement yet, so he plans to start depositing $70,000 in a retirement fund at a fixed rate of 10.00% at the end of each year. It will years for Rafael to reach his retirement goal. take