Multiple Choice
You just inherited some money,and a broker offers to sell you an annuity that pays $16,800 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) $180,054.02
B) $236,582.60
C) $209,365.13
D) $244,957.21
E) $255,425.46
Correct Answer:
Verified
Correct Answer:
Verified
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