What is the rate of return on the investment


Question: Your insurance agent is trying to sell you an annuity that costs $230,000 today. By buying this annuity, your agent promises that you will receive payments of $1,225 a month for the next 30 years. What is the rate of return on this investment?

Solution Preview :

Prepared by a verified Expert
Finance Basics: What is the rate of return on the investment
Reference No:- TGS02035327

Now Priced at $20 (50% Discount)

Recommended (95%)

Rated (4.7/5)