Please show steps, formulas and reasoning. Thank you!

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 purchaser (say, the parent) makes the following six payments to the insurance company: First birthday: $700 Second $700 birthday: Third birthday: $800 Fourth birthday:$800 Fifth birthday: $900 Sixth birthday: $900 After the child's sixth birthday, no more payments are made. When the child reaches age 65, he or she receives $300,00O. The relevant interest rate is 10 percent for the first six years and 7 percent for all subsequent years. Calculate the future value of the payments at the child's 65th birthday. (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Future value