6. X-Fund pays US$20,000 per year for ten years and P-Fund pays US$35,000 per year for six...

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6. X-Fund pays US$20,000 per year for ten years and P-Fund pays US$35,000 per year for six years. If the discount rate for X-Fund is 12 %

per annum, and that of P-Fund is 14 % per annum, indicate which of the two investments has a higher present value.

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