(Ignore Income Taxes in This Problem

Multiple Choice

(Ignore income taxes in this problem.) How much would you have to invest today in the bank at an interest rate of 13% to have an annuity of $3,900 per year for 5 years, with nothing left in the bank at the end of the 5 years? Select the amount below that is closest to your answer.

A) $19,500
B) $17,257
C) $2,118
D) $13,716