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Your father is about to retire, and he wants to buy an annuity that will provide him with $ 8 4 , 0 0 0

Your father is about to retire, and he wants to buy an annuity that will provide him with $84,000 of income a year for 25 years, with the first payment coming immediately. The going rate on such annuities is 5.15%. How much would it cost him to buy the annuity today?a. $1,471,632.01b. $981,088.00c. $1,348,996.01d. $1,226,360.01e. $1,508,422.81

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