an insurance company is offering a new policy to its customers. the details of the policy are as follows: the purchaser(say parent) makes the following 6 payments to the insurance company.

first birthday: $830

second birthday: $830

third birthday: $930

fourth birthday: $930

fifth bithday: $1030

sixth birthday: $1030

after the childs 6th birthday no more payments are made. when the child reaches 65 he or she recieves $380,000. if the relevant interest rate is 11 percent fir the first sixty years and 7 percent for all subsequent years, what is the value of the policy at the childs 65tb birthday?