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:

First birthday: $920

Second birthday:920

Third birthday: 1020

Fourth birthday: 1020

Fifth birthday: 1,120

Sixth birthday: 1,120

After the child's sixth birthday, no more payments are made. When the child reaches age 65, he or she receives $430,000. The relevant interest rate is 12 percent for the first 6 years and 7 percent for all subsequent years. What is the value of the policy at the child's 65th birthday?