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You have a chance to buy an annuity that pays $15,500 at the end of each year for 3 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. $42,608.95 b. $27,972.17 c. $43,166.93 d. $39,022.91 e. $34,533.55

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Financial Management, Finance

Category:- Financial Management
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