Question content area top

Part $1$

Value of a retirement annuity$$Personal Finance Problem$$An insurance agent is trying to sell you an$$ annuity, that will provide you with $$$$5$ comma $100$ at the end of each year for the next $35$ years. If you$$ don't purchase this$$ annuity, you can invest your money and earn a return of $3\%.$ What is the present value of the$$ annuity?

Question content area bottom

Part $1$

Ignoring$$ taxes, the present value of the annuity is $$$

$$

enter your response here. $($Round to the nearest$$ cent.$)$