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You have a chance to buy an annuity that pays $12,500 at the end of each year for 5 years. You could earn 6.0% on

You have a chance to buy an annuity that pays $12,500 at the end of each year for 5 years. You could earn 6.0% on your money in other investments with equal risk. What is the most you should pay for the annuity? Select one: a. $42,705.67 b. $52,654.55 c. $55,813.82 d. $47,524.15 e. $63,420.20

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