Multiple Choice
You have a chance to buy an annuity that pays $550 at the beginning of each year for 3 years.You could earn 5.5% on your money in other investments with equal risk.What is the most you should pay for the annuity?
A) $1,412.84
B) $1,487.20
C) $1,565.48
D) $1,643.75
E) $1,725.94
Correct Answer:
Verified
Correct Answer:
Verified
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