Making the annual payments-ester seals
Question: Ester Seals has just given an insurance company $41,625. In return, she will receive an annuity of $5,000 for 15 years. At what rate of return must the insurance company invest this $41,625 to make the annual payments? Interpolate.
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At what rate of return must the insurance company invest this $41,625 to make the annual payments?
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