The return provided by a $100 annuity deposited for 10 years that results in a future value of $614.46 is 11.45%.

Question

Quizplus · Accepted Answer

The return or interest rate of an annuity can be calculated using the future value formula for annuities, but the given future value of $614.46 for a $100 annuity deposited annually over 10 years does not correspond to an 11.45% return rate without knowing the specific interest rate or using financial calculations to determine it. The statement lacks the necessary information to directly validate the return rate.

The Return Provided by a $100 Annuity Deposited for 10