Variable Interest Rates A 15-year annuity pays $1,500 per month, and payments are made at the end
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Variable Interest Rates A 15-year annuity pays $1,500 per month, and payments are made at the end of each month. If the interest rate is 12 percent compounded monthly for the first seven years, and 6 percent compounded monthly thereafter, what is the present value of the annuity?
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Related Book For 
Corporate Finance With Connect Access Card
ISBN: 978-1259672484
10th Edition
Authors: Stephen Ross ,Randolph Westerfield ,Jeffrey Jaffe
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