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You have a chance to buy an annuity that pays $2,900 at the beginning of each year for 3 years. You could earn 6.4% on

You have a chance to buy an annuity that pays $2,900 at the beginning of each year for 3 years. You could earn 6.4% on your money in other investments with equal risk. What is the most you should pay for the annuity?

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