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A 10-year annuity pays 1250 per month and payments are

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A 10-year annuity pays $1,250 per month, and payments are made at the end of each month. If the interest rate is 12 percent compounded monthly for the first five years, and 8 percent compounded monthly thereafter, what is the present value of the annuity?

Reference no: EM13618988

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