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A 10-year annuity pays $1,725 per month, and payments are made at the end of each month. If the interest rate is 9 percent compounded
- A 10-year annuity pays $1,725 per month, and payments are made at the end of each month. If the interest rate is 9 percent compounded monthly for the first four years, and 7 percent compounded monthly thereafter, what is the value of the annuity today? (20 points)
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