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A new investment opportunity for you is an annuity that pays $1,250 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 $1,250 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. $3,545.30
b. $3,583.10
c. $3,595.70
d. $3,557.90
e. $3,570.50

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