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Determine what is the most should pay for the annuity

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Reference no: EM132696275

Your friend offers to pay you an annuity of $10,000 at the end of each year for 3 years in return for cash today. 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. $26,979.33
b. $26,984.53
c. $26,994.93
d. $27,000.13
e. $26,989.73

Reference no: EM132696275

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