You have a chance to buy an annuity that pays $1,200 at the end of...
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You have a chance to buy an annuity that pays $1,200 at the end of each month for 36 months. You could earn an annual nominal rate of 6.0% on your money in other investments with equal risk. What is the most you should pay for the annuity? Please show how its performed in excel. Thank you!
None of the above
$30,754
$26,369
$39,445
$27,757
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