Question: Problem 5 - 5 0 Variable Interest Rates [ LO 1 ] A 1 0 - year annuity pays $ 2 , 9 0 0
Problem Variable Interest Rates LO
A year annuity pays $ per month, and payments are made at the end of each month. The interest rate is percent compounded monthly for the first six years, and percent compounded monthly thereafter. What is the present value of the annuity? Note: Do not round intermediate calculations and round your answer to decimal places, eg
Answer is complete but not entirely correct.
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