A new investment opportunity for you is an annuity that pays $550 at the beginning...
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Finance
A new investment opportunity for you is 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?
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| a. | $1,412.84 |
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| b. | $1,487.20 |
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| c. | $1,565.48 |
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| d. | $1,643.75 |
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| e. | $1,725.94 |
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