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Your insurance agent is trying to sell you an annuity that costs $230,000 today

Finance

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 586.111

month for the next 30 years. What is the monthly rate of return on this investment?

A. .375 percent

B. .411 percent

C. .493 percent

D.545 percent

Option 1

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