You have a chance to buy an annuity that pays $550 at the beginning of each year for 3 years. You could earn 5.5% on your money in other investments with equal risk. What is the most you should pay for the annuity? Question 1 options: 1) $1,412.84 2) $1,487.20 3) $1,565.48 4) $1,643.75 5) $1,725.94