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You have a chance to buy an annuity that pays $4,000 at the end of each year for 3 years. You could earn 8% on
You have a chance to buy an annuity that pays $4,000 at the end of each year for 3 years. You could earn 8% on your money in other investments with equal risk. What is the most you should pay for the annuity today?
a $11,133
b $14,024
c $12,986
d $10,308
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