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A 13-year annuity pays $1,700 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 13-year annuity pays $1,700 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? $194,227.50 $142,398.89 $148,211.09 $1,743,659.87 $145,304.99

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