(Answered) How much would you have to invest today in the bank at an

Finance

How much would you have to invest today in the bank at an interest rate of 5% to have an annuity of $1,400 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) $6,667

B) $6,061

C) $7,000

D) $1,098

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