Question: For $ 8 0 , 0 0 0 you can purchase a 1 5 - year annuity that will pay $ 1 0 , 0

For $80,000 you can purchase a 15-year annuity that will pay $10,000 per year. The payments are made at the end of each year. Calculate the interest rate implied by this arrangement.
Group of answer choices
8.55%
6.13%
9.13%
7.12%

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