A 13-year annuity pays $3,000 per month, and payments are made at the end of each month.

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A 13-year annuity pays $3,000 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?(Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

Posted Date: Jun 25, 2024 04:41 PM

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A 13-year annuity pays $3,000 per month, and payments are made at the end of each month.

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