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You have a chance to buy an annuity that pays $1,500 at the beginning of each year for 3 years. You could earn 4.5% on

You have a chance to buy an annuity that pays $1,500 at the beginning of each year for 3 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. $4,309.00

b. $2,935.41

c. $4,123.45

d. $5,381.29

e. $5,623.45

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