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 childs 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	$	880
Second birthday		880
Third birthday		980
Fourth birthday		850
Fifth birthday		1,080
Sixth birthday		950

After the childs sixth birthday, no more payments are made. When the child reaches age 65, he or she receives $380,000. If the relevant interest rate is 11 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 final answer to 2 decimal places (e.g., 32.16).)

Future value

$