For $10,000, you can purchase a five-year annuity that will pay $2,358.65 per year for five years. The payments occur at the beginning of each year. Calculate the effective annual interest rate implied by this arrangement. a. 10 percent.

b. 8 percent.

c. 9 percent.

d. 11 percent.

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Ответ:

skrillex88

19.08.2022

Business

Keynesian

or Marxian.

Explanation:

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For $10,000, you can purchase a five-year annuity that will pay $2,358.65 per year for five years. The payments occur at the beginning of each year. Calculate the effective annual interest rate implied by this arrangement. a. 10 percent. b. 8 percent. c. 9 percent. d. 11 percent.