You just inherited some money and a broker offers to sell, Financial Management

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You just inherited some money and a broker offers to sell

You just inherited some money and a broker offers to sell you an annuity that pays $9,000 at the end of each year for 20 years, with the first payment coming 5 YEARS FROM TODA. You could earn 5% on your money in other investments with equal risk. What is the most that you should pay for the annuity?

A. 75,731

B. 82,021.53

C. 84,803.49

D. 92,274.22

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Financial Management: You just inherited some money and a broker offers to sell

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Financial Management: You just inherited some money and a broker offers to sell

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