Question: A 2 0 - year annuity pays $ 1 , 8 0 0 per month, and payments are made at the end of each month.

A 20-year annuity pays $1,800 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 PV of the annuity? (Do not round intermediate calculations. Round the final answer to 2 decimal places. Omit $ sign in your response.)

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