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Which one of these is a money market security?Kay owns two annuities that will each pay $ 5 0 0 a month for the next

Which one of these is a money market security?Kay owns two annuities that will each pay $

500

a month for the next

12

years. One payment is received at the beginning of each month while the other is received at the end of each month. At a discount rate of

7.25

percent, compounded monthly, what is the difference in the present values of these annuities?

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