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A new investment opportunity for you is an annuity that pays $3,500 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 $3,500 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. $9,962.12

b. $10,009.22

c. $9,993.52

d. $9,977.82

e. $10,024.92

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