ull Mobifone 07:58 37% An annuity costs $70,000 today, pays $3,500 a year, and earns a return of 4.5 percent. What is the length of the annuity time period?A. 48.00 years B. 52.31 yearsC. 43.08 yearsD. 54.96 years E. 49.48 years Ted purchased an annuity today that will pay $1,000 a month for five years. He received his first monthly payment today. Allison purchased an annuity today that will pay $1,000 a month for five years. She will receive her first payment one month from today. Which one of the following statements is correct concerning these two annuities? A. Both annuities are of equal value today.B. Ted's annuity has a higher present value than Allison's.C. Allison's annuity is an annuity due. D. Ted's annuity is an ordinary annuity. E. Allison's annuity has a higher present value than Ted's. NOTE: EXplain detail please