Problem:
C. D. Rom has just given an insurance company $30,000. In return, he will receive an annuity of $3,200 for 20 years. At what rate of return must the insurance company invest this $30,000 in order to make the annual payments? Interpolate.
Your answer must be, typed, double-spaced, Times New Roman font (size 12), one-inch margins on all sides, APA format and also include references.Provide step by step solutions for the above question.