You want to purchase an annuity that will pay you $1,200 a quarter for 15 years and earn a return of 5.5 percent,compounded quarterly.What is the most you should pay to purchase this annuity?
A) $52,988.16
B) $48,811.20
C) $47,455.33
D) $48,450.67
E) $52,806.30
Correct Answer:
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