(Annuity interest rate). Your folks just called and would like some advice from you. An insurance agent just called them and offered them the opportunity to purchase an annuity for $17,393.71 that will pay them $2000 per year for 20 years. They don't have the slightest idea what return they would be making on their investment of $17,393.71. What rate of return would they be earning?
The annual rate of return your folks would be earning on their investment is______%.