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You have a chance to buy an annuity that pays $14,400 at the end of each year for 3 years. You could earn 6.1% on

You have a chance to buy an annuity that pays $14,400 at the end of each year for 3 years. You could earn 6.1% on your money in other investments with equal risk. What is the most you should pay for the annuity?

a. $45,835.20

b. $38,420.27

c. $49,783.48

d. $40,763.90

e. $26,363.90

DO NOT COPY FROM CHEGG, OR I HAVE TO REPORT.

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