Implied interest rate and period 8. Aa Aa Consider the case of the following annuities, and the need to compute either their expected rate of return or duration. Jorge inherited an annuity worth $4,116.90 from his uncle. The annuity will pay him eight equal payments of $800 the end of each year. The annuity fund is offering a return of at 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 $4,654,474 in savings, heawill have enough money for retirement. Rafael has nothing saved for his retirement yet, so he plans to start depositing $40,000 in a retirement fund at a fixed rate of 11.00 % at the end of each year. It will years for Rafael to reach his retirement goal. take