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A new investment opportunity for you is an annuity that pays $1,100 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 $1,100 at thebeginningof 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. $3,091.55b. $3,071.85c. $3,130.95d. $3,111.25e. $3,150.65

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