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An 11-year annuity pays $1,300 per month, and payments are made at the end of each month. The interest rate is 12 percent compounded monthly

An 11-year annuity pays $1,300 per month, and payments are made at the end of each month. The interest rate is 12 percent compounded monthly for the first six years and 11 percent compounded monthly thereafter.Calculate the Present value of the annuity at t=0.
$97,617.21
$95,703.15
$126,286.45
$1,148,437.81
$93,789.09

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