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How much would you have to invest today in the bank at an interest rate of 8% to have an annuity of $6,000 per year

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How much would you have to invest today in the bank at an interest rate of 8% to have an annuity of $6,000 per year for 8 years, with nothing left in the bank at the end of the 8 years? Select the amount below that is closest to your answer. (Ignore income taxes) Use the selections from the present value tables below: Present Value of $1 Period 496 896 4 0.855 0.681 Present Value of an Annuity of $1 Period 896 3.630 3.312 496 4 8 0.731 0.540 8 6.733 5.747 16 0.534 0.292 16 11.652 8.851 All answers are rounded to the nearest dollar. $3,240 . $1,752 OB. $53,106 OC. $34,482 OD

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