Assume that you own an annuity that will pay you 15000 per, Financial Management

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Assume that you own an annuity that will pay you 15000 per

Assume that you own an annuity that will pay you $15,000 per year for 12 years, with the first payment being made today. You need money today to open a new restaurant, and your uncle offers to give you $120,000 for the annuity. If you sell it, what rate of return would your uncle earn on his investment?

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Financial Management: Assume that you own an annuity that will pay you 15000 per

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