Business, 05.04.2021 23:30 mbonham481

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 start a new business, and your uncle offers to give you $128,000 for the annuity. If you sell it, what rate of return would your uncle earn on his investment? a. 6.91% b. 6.77% c. 5.73% d. 5.32% e. 8.36%

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Assume that you own an annuity that will pay you $15,000 per year for 12 years, with the first payme...