Multiple Choice
You just inherited some money,and a broker offers to sell you an annuity that pays $5,000 at the end of each year for 20 years.You could earn 5% on your money in other investments with equal risk.What is the most you should pay for the annuity?
A) $50,753
B) $53,424
C) $56,236
D) $59,195
E) $62,311
Correct Answer:
Verified
Correct Answer:
Verified
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