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Atlas insurance wants to sell you an annuity which will pay

Atlas Insurance wants to sell you an annuity which will pay you $1,600 per quarter for 25 year. You want to earn a minimum rate of return of 6.5 percent. What is the most you are willing to pay as a lump sum today to buy this annuity?

a. 72,008.24

b. 74,208.16

c. 78,818.41

d. 83,008.80

e. 88,927.59

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Financial Management: Atlas insurance wants to sell you an annuity which will pay

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Financial Management: Atlas insurance wants to sell you an annuity which will pay

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