Question: An annuity is structured so that you will receive yearly payments with the first payment to be received 3 years from today. The annuity consists

An annuity is structured so that you will receive yearly payments with the first payment to be received 3 years from today. The annuity consists of 6 payments of $700 followed by 7 payments of $400 and then payments of $900 continuing forever. Find the amount that you would have to pay today to receive this annuity if it has a constant force of interest of 10%. Round your answer to 2 decimal places.

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