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Compute what is the most should pay for the annuity

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Reference no: EM132696250

A new investment opportunity for you is an annuity that pays $3,450 at the beginning of each year for 3 years. You could earn 5.5% on your money in other investments with equal risk.

Problem 1: What is the most you should pay for the annuity?

a. $9,806.40
b. $9,860.00
c. $9,819.80
d. $9,846.60
e. $9,833.20

Reference no: EM132696250

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