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A 16-year annuity pays $1,500 per month, and payments are made at the end of each month. If the interest rate is 8 percent compounded

A 16-year annuity pays $1,500 per month, and payments are made at the end of each month. If the interest rate is 8 percent compounded monthly for the first seven years, and 7 percent compounded monthly thereafter, what is the value of the annuity today? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

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