What is the most you should pay for the annuity

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Reference no: EM131601566

You just inherited some money, and a broker offers to sell you an annuity that pays $5,000 at the end of each year for 20 years. You could earn 5% on your money in other investments with equal risk. What is the most you should pay for the annuity?

Reference no: EM131601566

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