Question: A 1 5 - year annuity pays $ 2 , 0 0 0 per month at the end of each month. If the APR is

A 15-year annuity pays $2,000 per month at the end of each month. If the APR is 12 percent compounded monthly for the first nine yearsand 7 percent compounded monthly thereafter, what is the value of the annuity today?

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