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How much would you have to invest today in the bank at an interest rate of 5% to have an annuity of $1,400 per year

How much would you have to invest today in the bank at an interest rate of 5% to have an annuity of $1,400 per year for 5 years, with nothing left in the bank at the end of the 5 years? Select the amount below that is closest to your answer.

a. $6,667

b. $6,061

c. $7,000

d. $1,098

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