Multiple Choice
New Jersey Mutual has offered you a single premium annuity that will pay you $12,000 per year (end of year) for the next 15 years. If you must pay $109,296 today for this annuity, what is your expected rate of return?
A) 8%
B) 9%
C) 7%
D) 10%
Correct Answer:
Verified
Correct Answer:
Verified
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