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A 13-year annuity pays $1,500 per month, and payments are made at the end of each month. The interest rate is 15 percent compounded monthly

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A 13-year annuity pays $1,500 per month, and payments are made at the end of each month. The interest rate is 15 percent compounded monthly for the first Five years and 13 percent compounded monthly thereafter. Required What is the present value of the annuity? O $105,405.70 O $103,297.59 O $107,513.82 O $152,299.06 0 $1,264,868.46

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