# Annuities: Determining the Interest Rate

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1. May 23, 2004

### Itachi

Annuities: Determining the Interest Rate (help needed!)

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?

Last edited: May 23, 2004
2. May 24, 2004

### 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...

you just put the numbers in....