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A new investment opportunity for you is an annuity that pays $1,800 at the beginning of each year for 3 years. You could earn 5.5%

A new investment opportunity for you is an annuity that pays $1,800 at the beginning of each year for 3 years. You could earn 5.5% on your money in other investments with equal risk. What is the most you should pay for the annuity?

Select the correct answer.

a. $5,188.58

b. $5,172.28

c. $5,155.98

d. $5,139.68

e. $5,123.38

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