Today, you are purchasing a 15-year, 6.5 percent annuity at a cost of $36,500.The annuity will pay annual payments starting one year from today.What is the amount of each payment?
A) $4,177.59
B) $3,881.88
C) $2,420.91
D) $3,679.71
E) $4,874.70
Correct Answer:
Verified
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