Question: Determine the difference between the present value of a $51,000 twenty-year annuity earning 6% interest compounded annually versus a $51,000 twenty-year growing annuity earning 6%

Determine the difference between the present value of a $51,000 twenty-year annuity earning 6% interest compounded annually versus a $51,000 twenty-year growing annuity earning 6% interest compounded annually and having a 3% annuity growth rate.

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