Annuities: Determining the Interest Rate

[Itachi]

David has $2000 to invest in an annuity. What interest rate must be obtain in order to recieve payments of $500 at the end of each year for the next 5 years?

[Mark]

Im assuming youv'e been given some sort of financial math equation to solve these types of problems. I learned them in grade 11 math... here is the equation...

http://oakroadsystems.com/math/pics/loaneq5.gif

you just put the numbers in....