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A 15-year annuity pays $1,900 per month, and payments are made at the end of each month. The interest rate is 11 percent compounded monthly
A 15-year annuity pays $1,900 per month, and payments are made at the end of each month. The interest rate is 11 percent compounded monthly for the first Six years and 9 percent compounded monthly thereafter. Required: What is the present value of the annuity? rev: 09_17_2012
$2,070,610.44
$169,099.85
$240,115.78
$176,001.89
$172,550.87
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