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Question 21 Your father is thinking of buying an annuity that pays $4175 at the end of each year for 3 years. He could earn

Question 21

Your father is thinking of buying an annuity that pays $4175 at the end of each year for 3 years. He could earn 5.95% on his money in other investments with equal risk. What is the most he should pay for this investment?

a. $11.047.

b. $12.305

c. $11.466

d. $11.170.

e. $12.525

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