Business
Business, 23.07.2020 01:01, vincentmoine

A 10-year annuity pays $3,100 per month, and payments are made at the end of each month. The interest rate is 10 per cent compounded monthly for the first five years, and 8 per cent compounded monthly thereafter. What is the present value of the annuity?
(Round your answer to 2 decimal places (e. g., 32.16).)

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A 10-year annuity pays $3,100 per month, and payments are made at the end of each month. The interes...

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