You Have a Chance to Buy an Annuity That Pays

Multiple Choice

You have a chance to buy an annuity that pays $3,300 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) $9,392.86
B) $7,420.36
C) $7,138.57
D) $10,426.07
E) $10,801.78