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. For this policy, 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 $$300,000.$ If the relevant interest rate is $10$ percent for the first six

years and $7$ percent for all subsequent years, what would the value of the deposits be

when the policy matures? $($Do not round intermediate calculations and round your

answer to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$

Future value