Formulate the present value of the annuity

Reference no: EM131924098

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?

Reference no: EM131924098

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