You have a chance to buy an annuity that pays $2,450 at the beginning of each year for 3 years. You could earn 5.5% on your money in other investments with equal risk. What is the most you should pay for the annuity?
A. $6,973.48
B. $7,531.36
C. $6,903.75
D. $8,298.45
E. $8,228.71
Answer: A
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