Sun Woo wants to purchase an annuity that will pay him $1,000 a month for fifteen years. If he can negotiate a 4.5% rate of return, how much will he have to pay today in order to purchase this
Annuity?
A) $96,489
B) $123,185
C) $130,720
D) $154,327
E) $185,171
Correct Answer:
Verified
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