You just inherited some money,and a broker offers to sell you an annuity that pays $4,300 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) $52,515.75
B) $53,051.63
C) $53,587.50
D) $61,625.63
E) $60,018.01
Correct Answer:
Verified
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