Answered

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The Good Life Insurance Co. wants to sell you an annuity which will pay you $500 per quarter for 25 years. You want to earn a minimum rate of return of 5.5%. What is the most you are willing to pay as a lump sum today to buy this annuity?
a. $26,988.16
b. $27,082.94
c. $27,455.33
d. $28,450.67

Sagot :

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