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You have a chance to buy an annuity that pays $ 7 , 0 0 0 at the beginning of each year for 5 years.

You have a chance to buy an annuity that pays $7,000 at the beginning of each year for 5 years. You could earn 4.5% on your money in other investments with equal risk. What is the most you should pay for the annuity?
a.
$29,864.79
b.
$34,360.57
c.
$32,112.68
d.
$31,791.55
e.
$33,076.06

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