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

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 month for the next 30 years. What is the rate of return on this investment?    A.  3.75 percent B.  4.47 percent C.  4.93 percent D.  5.45 percent E.  5.67 percent   This cannot be solved directly, so it's easiest to just use the calculator method to get an answer. You can then use the calculator answer as the rate in the formula just to verify that your answer is correct.

60.

You have been investing $250 a month for the last 13 years. Today, your investment account is worth $73,262. What is your average rate of return on your investments?    A.  8.94 percent B.  9.23 percent C.  9.36 percent D.  9.41 percent E.  9.78 percent   This cannot be solved directly, so it's easiest to just use the calculator method to get an answer. You can then use the calculator answer as the rate in the formula just to verify that your answer is correct.

61.

Will has been purchasing $25,000 worth of New Tek stock annually for the past 15 years. His holdings are now worth $598,100. What is his annual rate of return on this stock?    A.  6.13 percent B.  6.24 percent C.  6.29 percent D.  6.32 percent E.  6.36 percent   This cannot be solved directly, so it's easiest to just use the calculator method to get an answer. You can then use the calculator answer as the rate in the formula just to verify that your answer is correct.