Suppose your parents are getting ready to retire and decide to convert some of their retirement portfolio,
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Question:
Suppose your parents are getting ready to retire and decide to convert some of their retirement portfolio, which is invested in the stock market, into an annuity that guarantees them a fixed annual income. Their insurance asks for $ for an annuity that guarantees to pay them $ a year for years. What is the rate of return on the annuity?
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