Multiple Choice
An insurance company offers you an end-of-year annuity of $48,000 per year for the next 20 years. They claim your return on the annuity is 9 percent. What should you be willing to pay today for this annuity?
A) $429,600
B) $438,192
C) $408,672
D) $398,144
Correct Answer:
Verified
Correct Answer:
Verified
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