Given an annual eective interest rate of 5%, nd the present value of a ten-year annuity which pays $700 at the end of each month for the rst four years and $2,400 at the end of each quarter for the last six years.

Given an annual effective interest rate of 5%, find the present value of a ten- year annuity which pays $700 at the end of each month for the first four years and $2,400 at the end of each quarter for the last six years