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Time Value of Money – Yield with Interpolation

Author:
November 7th, 2022

Have no idea how to start this problem. Step by step instruction will be great.

Ester Seals has just given an insurance company $41,625. In return, she will
receive an annuity of $5,000 for 15 years. At what rate of return must the
insurance company invest this $41,625 to make the annual payments?
Interpolate.

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