i think the answer is wrong, should we calculate the present value of A2( $88312.6) ?

right?

(b) Find the present value of the generalized annuity where interest rate is 2.4% APR compounding monthly and $3,500 is deposited at the end of each month for one year, and $5,000 is deposited there- after at the end of each month for further 1.5 years. Round your final answer to the nearest dollar. (7 points) Present value of an annuity A = R[1-(1+r)^] = n A1: R= 3500 0.024 r= = 0.002 12 = n = 12 = A1 = 3500 = 1-1.002-1 -12 0.002 - - 41, 459.1 7 A2: R = 5000 n = 18 p = 0.002 - 88, 312.6 A2 = 5000. 1-1.002-18 = 18 Generalized annuity: A = A1 + A2 ~ 129 771.7 = $129, 772