What is the present value of the annuity

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Reference no: EM131307949

A 15-year annuity pays $1,650 per month, and payments are made at the end of each month. If the interest rate is 10 percent compounded monthly for the first seven years, and 6 percent compounded monthly there after, 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 $

Reference no: EM131307949

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