Question: A 17-year annuity pays $1,700 per month, and payments are made at the end of each month. The interest rate is 13 percent compounded monthly

A 17-year annuity pays $1,700 per month, and payments are made at the end of each month. The interest rate is 13 percent compounded monthly for the first five years and 11 percent compounded monthly thereafter.

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A 17-year annuity pays $1,700 per month, and payments are made at the end of each month. The interest rate is 13 percent compounded monthly for the first five years and 11 percent compounded monthly thereafter. What is the present value of the annuity? Multiple Choice O $210,329.47 $145,759.96 0 $1,749,19.50 $148,675.16 0 $142,844.76

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