31 Your Insurance Agent Is Trying To Sell You An Annuity That Costs 50 000 Today By 2458992

31) Your insurance agent is trying to sell you an annuity that costs $50,000 today. By buying this annuity, your agent promises that you will receive payments of $250 a
month for the next 20 years. What is the rate of return on this investment?

A) 2.47 percent

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B) 3.75 percent

C) 1.88 percent

D) 3.67 percent

E) 2.45 percent