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 child's birth. The details of the policy are as follows: The purchaser $($say$,$ the parent$)$ makes the following six payments to the

insurance company:

After the child's sixth birthday, no more payments are made. When the child reaches age $65,$ he or she receives $$385,000.$

If the relevant interest rate is $11$ percent for the first six years and $7$ percent for all subsequent years, what is the value of the policy at

the child's $65$ th birthday?

Note: Do not round intermediate calculations and round your answer to $2$ decimal places, e$.$g$.,32\mathrm{.}16.$

Answer is complete but not entirely correct.