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Question 11 - CTFA discussion

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For $1,000 you can purchase a 5-year ordinary annuity that will pay you a yearly payment of $263.80 for 5 years. The compound annual interest rate implied by this arrangement is closest to:

A.
8%
Answers
A.
8%
B.
9%
Answers
B.
9%
C.
10%
Answers
C.
10%
D.
11%
Answers
D.
11%
Suggested answer: C
asked 16/09/2024
Thabo Sebola
38 questions
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