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 $230,000 If the relevant interest rate is 10 percent for the first six years and 6 percent for all subsequent years, what is the value of the policy at the child's 65 th birthday (Do not round intermediate calculations and round your answer to 2 decimal places, e g , 32 16 )

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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 $230,000  If the relevant interest rate is 10 percent for the first six years and 6 percent for all subsequent years, what is the value of the policy at the child's 65 th birthday  (Do not round intermediate calculations and round your answer to 2 decimal places, e g , 32 16 )

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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

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