What is the present value of the annuity in given problem

Reference no: EM131924116

Question: A 20-year annuity pays $1, 450 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.

Reference no: EM131924116

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