Question: A 1 5 - year annuity pays $ 2 , 0 5 0 per month, and payments are made at the end of each month.

A 15-year annuity pays $2,050 per month, and payments are made at the end of each month. If the APR is 10 percent compounded monthly for the first seven years, and APR of 6 percent compounded monthly thereafter, what is the value of the annuity today?

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