Question: value: 2.50 points Problem 5-50 Variable Interest Rates [LO 1] A 13-year annuity pays $3,400 per month, and payments are made at the end of

value: 2.50 points Problem 5-50 Variable Interest Rates [LO 1] A 13-year annuity pays $3,400 per month, and payments are made at the end of each month. The interest rate is 8 percent compounded monthly for the first eight years, and 6 percent compounded monthly thereafter. Required: What is the present value of the annuity? (Enter rounded answer as directed, but do not use rounded numbers in intermediate calculations. Round your answer to 2 decimal places (0.g., 32.16).) Present value

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