A 20-year annuity pays 1800 per month and payments are made, Finance Basics

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A 20-year annuity pays 1800 per month and payments are made

Question: A 20-year annuity pays $1,800 per month, and payments are made at the end of each month. If the interest rate is 11 percent compounded monthly for the first ten years, and 7 percent compounded monthly thereafter, what is the present value of the annuity?

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Finance Basics: A 20-year annuity pays 1800 per month and payments are made

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Finance Basics: A 20-year annuity pays 1800 per month and payments are made

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