A 12-year annuity pays 3100 per month and payments are made, Financial Management

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A 12-year annuity pays 3100 per month and payments are made

A 12-year annuity pays $3,100 per month, and payments are made at the end of each month. The interest rate is 10 percent compounded monthly for the first five years, and 8 percent compounded monthly thereafter. What is the present value of the annuity?

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Financial Management: A 12-year annuity pays 3100 per month and payments are made

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Financial Management: A 12-year annuity pays 3100 per month and payments are made

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