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Farm Boys Insurance Co. wants to sell you an annuity that pays $1,500 per quarter for 20 years. You expect to earn a minimum rate

Farm Boys Insurance Co. wants to sell you an annuity that pays $1,500 per quarter for 20 years. You expect to earn a minimum rate of return of 6% APR, compounded quarterly. The most you are willing to pay for this annuity today is closest to what value? a. $180,000 b. $140,000 c. $120,000 d. $100,000 e. $160,000

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