Question 2 of 12 -/4 E View Policies Current Attempt in Progress Jason is planning for his retirement this year. One option that has been presented to him is the purchase of an annuity that would provide a $31,000 payment each year for the next 17 years. Click here to view the factor table. Calculate how much Jason should be willing to pay for the annuity if he can invest his funds at 13%. (For calculation purposes, use 4 decimal places as displayed in the factor table provided and round final answer to decimal place, e.g. 58,971.) Payment $ APPENDIX 9.2 Present value of an annuity of $1 per period. Periods 4% 5% 5 6% 13% 14% 16% 18% 20% 1 2 3 4 5 0.9615 1.8861 2.7751 3.6299 4.4518 0.9524 1.8594 2.7232 3.5460 4.3295 0.9434 1.8334 2.6730 3.4651 4.2124 7% 7 8% 9% 10% 11% 12% 0.9346 0.9259 0.9174 0.9091 0.9009 0.8929 1.8080 1.7833 1.7591 1.7355 1.7125 1.6901 2.6243 2.5771 2.5313 2.4868 2.4437 2.4018 3.3872 3.3121 3.2397 3.1698 3.1024 3.0373 4.1002 3.9927 3.8897 3.7907 3.6959 3.6048 0.8850 0.8772 0.8621 0.8475 0.8333 1.6681 1.6467 1.6052 1.5656 1.5278 2.3612 2.3216 2.2459 2.1743 2.1065 2.9745 2.9137 2.7982 2.6901 2.5887 3.5172 3.4331 3.2743 3.1272 2.9906 6 7 8 9 10 5.2421 6.0021 6.7327 7.4353 8.1109 5.0757 4.9173 5.7864 5.5824 6.4632 6.2098 7.1078 6.8017 7.7217 7.3601 4.7665 4.6229 4.48594.3553 4.2305 4.1114 3.9975 5.3893 5.2064 5.0330 4.8684 4.7122 4.5638 4.4226 5.9713 5.7466 5.5348 5.33495.1461 4.9676 4.7988 6.5152 6.2469 5.9952 5.7590 5.5370 5.3282 5.1317 7.0236 6.7101 64177 6.1446 5.8892 5.6502 5.4262 3.8887 4.2883 4.6389 4.9464 5.2161 3.6847 3.4976 3.3255 4.0386 3.8115 3.6046 4.3436 4.0776 3.8372 4.6065 4.3030 4.0310 4.8332 4.4941 4.1925 11 12 13 14 15 8.7605 8.3064 9.3851 8.8633 9.9856 9.3936 10.5631 9.8986 11.1184 10.3797 7.8869 8.3838 8.8527 9.2950 9.7122 7.4987 7.1390 6.8052 6.4951 7.9427 7.5361 7.1607 6.8137 8.3577 7.9038 74869 7.1034 8.7455 8.2442 7.7862 7.3667 9.1079 8.5595 8.0607 7.6061 6.2065 5.9377 6.4924 6.1944 6.7499 6.4235 6.9819 6.6282 7.1909 6.8109 5.6869 5.4527 5.0286 4.6560 4.3271 5.9176 5.6603 5.1971 4.7932 4.4392 6.1218 5.8424 5.3423 4.9095 4.5327 6.3025 6.0021 5.4675 5.0081 4.6106 6.4624 6.1422 5.5755 5.0916 4.6755 16 11.6523 10.8378 10.1059 9.4466 8.8514 8.3126 7.8237 17 12.1657 11.2741 10.4773 9.7632 9.1216 8.5436 8.0216 18 12.6593 11.6896 10.8276 10.0591 9.3719 8.7556 8.2014 19 13.1339 12.0853 11.1581 10.3356 9.6036 8.9501 8.3649 20 13.5903 12.4622 11.4699 10.5940 9.8181 9.1285 8.5136 1 $1 (1 + i)" PVA = i i 7.3792 6.9740 7.5488 7.1196 7.7016 7.2497 7.8393 7.3658 7.9633 74694 6.6039 6.2651 5.6685 5.1624 4.7296 6.7291 6.3729 5.7487 5.2223 4.7746 6.8399 6.4674 5.8178 5.2732 4.8122 6.9380 6.5504 5.8775 5.3162 4.8435 7.0248 6.6231 5.9288 5.3527 4.8696 =