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Anthony inherited an annuity worth $3,811.62 from his uncle. The annuity will pay him four equal payments of $1,100 at the end of each year. The annuity fund is offering a return of ___.

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Answer:

The annuity fund is offering a return of 6%

Find attached spreadsheet for detailed computation

Explanation:

With of aid Excel Rate formula,the rate of the annuity was computed.

Please note the way the variables were inserted:

nper=number of payments=4

Equal annuity payment amount(PMT)=$1100

Present of value of annuity=$3,811.62

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