Value of a retirement annuity, Personal Finance Problem. An insurance agent is trying to sell you an immediate-retirement annuity, which for a single amount paid today will provide you with $16,900 at the end of each year for the next 35 years. You currently earn 6% on low-risk investments comparable to the retirement annuity.
Ignoring taxes, what is the most you would pay for this annuity (Round to the nearest cent.)