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A 11-year annuity pays $2,000 per month, and payments are made at the end of each month. The interest rate is 11 percent compounded monthly

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A 11-year annuity pays $2,000 per month, and payments are made at the end of each month. The interest rate is 11 percent compounded monthly for the first five years and 9 percent compounded monthly thereafter. What is the present value of the annuity? Multiple Choice $202.939.77 $153,038.15 O $156,161.37 $159,284.60 $1,873,936.49

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