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You just inherited some money, and a broker offers to sell you an annuity that pays $10,100 at the end of each year for 20 years. You could earn 5% on your money in other investments with equal risk. What is the most you should pay for the annuity?

a. $146,007.26

b. $143,489.89

c. $115,798.86

d. $117,057.54

e. $125,868.32

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92306076

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