Question: How much will it cost Hitomi to purchase a two-level retirement annuity that will pay $5000 at the end of each month for the first

How much will it cost Hitomi to purchase a two-level retirement annuity that will pay $5000 at the end of each month for the first 10 years, and $7000 per month for the following 15 years? The payments include a rate of return to Hitomi of 3% compounded monthly.

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