S. 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. Matthew needed money for some unexpected expenses, so he borrowed $2,784.42 from a friend and agreed to repay the loan in three equal installments of $1,100 at the end of each year. The agreement is offering an implied interest rate of Matthew's friend, Aaron, wants to go to business school. While his father will share some of the expenses, Aaron still S needs to put in the rest on his own. But Aaron has no money saved for it yet. According to his calculations, it will cost him $25,152 to complete the business program, including tuition, cost of living, and other expenses. He has decided to deposit $5,500 at the end of every year in a mutual fund, from which he expects to earn a fixed 9% rate of return. It will take approximately years for Aaron to save enough money to go to business school. 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. Ethan inherited an annuity worth $3,933.86 from his uncle. The annuity will pay him six equal payments of $800 at the end of each year. The annuity fund is offering a return of Ethan's friend, Samuel, has hired a financial planner for advice on retirement. Considering Samuel's current expenses and expected future lifestyle changes, the financial planner has stated that once $4,339,343 in savings, he will have enough money for retirement. Samuel has nothing saved for his retirement yet, so he plans to start depositing $40,000 in a retirement fund at a fixed rate of 6.00 % at the end of each year. It will Samuel crosses a threshold of take years for Samuel to reach his retirement goal