After receiving a reward for information leading to the arrest of a notorious criminal, you are considering investing it in 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?
A) $50,753
B) $53,424
C) $56,236
D) $59,195
E) $62,311

Question

Quizplus · Accepted Answer

The Answer of After receiving a reward for information leading to the arrest of a notorious criminal, you are considering investing it in 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?
A) $50,753
B) $53,424
C) $56,236
D) $59,195
E) $62,311

After Receiving a Reward for Information Leading to the Arrest