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You have a chance to buy an annuity that pays $550 at the beginning of each year for 3 years. You could earn 1% on

You have a chance to buy an annuity that pays $550 at the beginning of each year for 3 years. You could earn 1% on your money in other investments with equal risk. What is the most you should pay for the annuity?

Group of answer choices

$1,587.35

$1,572.68

$1,633.72

$1,602.41

$1,617.86

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