An insurance company is offering a new policy to its customers. Typically, the policy is bought by a parent or grandparent for a child at the childs birth. The details of the policy are as follows: The purchaser (say, the parent) makes the following six payments to the insurance company:

First birthday: $ 760

Second birthday: $ 760

Third birthday: $ 860

Fourth birthday: $ 850

Fifth birthday: $ 960

Sixth birthday: $ 950

After the childs sixth birthday, no more payments are made. When the child reaches age 65, he or she receives $260,000. The relevant interest rate is 10 percent for the first six years and 7 percent for all subsequent years.

Find the future value of the payments at the child's 65th birthday: Future Value $____________