Multiple Choice
Your father is considering purchasing an annuity that pays $5,000 at the beginning of each year for 5 years.He could earn 4.5% on his money in other investments with equal risk.What is the most he should pay for the annuity?
A) 20,701
B) $21,791
C) $22,938
D) $24,085
E) $25,289
Correct Answer:
Verified
Correct Answer:
Verified
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