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Kyle receives $5,000 on the first of each month. Angela receives $5,000 on the last day of each month. Both Kyle and Angela will receive

Kyle receives $5,000 on the first of each month.

Angela receives $5,000 on the last day of each month.

Both Kyle and Angela will receive payments for twenty years. At an 12% discount rate, what is the difference in the present value of these two sets of payments?

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