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You have a chance to buy an annuity that pays $11,000 at the beginning of each year for 5 years. You could earn 4.5% on your money in other investments with equal risk. What is the most you should pay for the annuity?

a. $59,546.08

b. $55,509.06

c. $41,884.11

d. $50,462.78

e. $63,078.48

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92306036

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