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A 16-year annuity pays $1500 per month at the end of each month. If the discount rate is 8% compounded monthly for the first seven

A 16-year annuity pays $1500 per month at the end of each month. If the discount rate is 8% compounded monthly for the first seven years and 7% compounded monthly thereafter, what is the present value of the annuity?

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