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A 11-year annuity pays $1,700 per month, and payments are made at the end of each month. The interest rate is 9 percent compounded monthly

A 11-year annuity pays $1,700 per month, and payments are made at the end of each month. The interest rate is 9 percent compounded monthly for the first six years and 7 percent compounded monthly thereafter.

What is the present value of the annuity?

$147,331.32
$144,442.47
$180,164.03
$1,733,309.59
$141,553.62

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