C. D. Rom has just given an insurance company $47,500. In return, he.pdf

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C.D. Rom paid an insurance company $47,500 for an annuity that will pay $6,800 annually for 20 years. To calculate the rate of return needed by the insurance company to make the annual payments, the present value, future value, coupon amount, and number of periods were input into the financial calculator. The required rate of return was calculated to be 13.09%, meaning the insurance company must invest at a 13.09% rate of return.

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C. D. Rom has just given an insurance company $47,500. In return, he will receive an annuity of
$6,800 for 20 years. At what rate of return must the insurance company invest this $47,500 in
order to make the annual payments? Use Appendix D for an approximate answer, but calculate
your final answer using the financial calculator method.Do not round intermediate calculations.
Round your final answer to 2 decimal places.)
Solution
We have,
PV as 47,500
Coupon ad 6,800
N is 20
FV is 0
So the yiekd is 13.09%, the insurance company must invest at 13.09% to make annual payments.

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