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A 1 0 - year annuity pays $ 1 , 7 0 0 per month, and payments are made at the end of each month.

A 10-year annuity pays $1,700 per month, and payments are made at the end of each month. If the APR is 12 percent compounded monthly for the first five years, and APR of 8 percent compounded monthly thereafter, what is the value of the annuity today? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g.,32.16.)

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