Question 1 What is the present value (or purchase price) of an annuity product which will pay you $3,500 at the end of each year for the next 15 years? Use an interest rate of 9%. O $7,285 O $17,572 $22,000 1 pts O $28,212

What is the present value (or purchase price) of an annuity product which will pay you $3,500 at the end of each year for the next 15 years? Use an interest rate of 9%. $7,285 $17,572 $22,000 $28,212