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Finance question thanks for help A 20-year annuity pays $2,250 per month, and payments are made at the end of each month. If the interest
Finance question thanks for help
A 20-year annuity pays $2,250 per month, and payments are made at the end of each month. If the interest rate is 11 percent compounded monthly for the first ten years, and 7 percent compounded monthly thereafter, what is the present value of the annuity? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Present value $IStep by Step Solution
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