Your friend offers to pay you an annuity of $8,100 at the end of each year for 3 years in return for cash today. You cou

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answerhappygod
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Your friend offers to pay you an annuity of $8,100 at the end of each year for 3 years in return for cash today. You cou

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Your friend offers to pay you an annuity of $8,100 at the end ofeach year for 3 years in return for cash today. You could earn 5.5%on your money in other investments with equal risk. What is themost you should pay for the annuity?
a. $21,857.86 b. $21,853.26 c. $21,844.06 d. $21,848.66 e.$21,862.46
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