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Mary buys an annuity that promises to pay her $1,500 at the end of each of the next 20 years. The appropriate interest rate is

Mary buys an annuity that promises to pay her $1,500 at the end of each of the next 20 years. The appropriate interest rate is 7.5%. What is the value of this 20-year annuity today?

A. $15,291.74

B. $20,647.25

C. $13,218.57

D. $16,886.68

E. $14,874.27

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