Question: Variable Interest Rates a 15-year annuity pays $1,500 per month, and payments are made at the end of each month. If the interest rate is

Variable Interest Rates a 15-year annuity pays $1,500 per month, and payments are made at the end of each month. If the interest rate is 13 percent compounded monthly for the first seven years, and 10 percent compounded monthly thereafter, what is the present value of the annuity?

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