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You are scheduled to receive annual payments of $10,000 for each of the next 25 years. Your discount rate is 8.5 percent. What is the

You are scheduled to receive annual payments of $10,000 for each of the next 25 years.

Your discount rate is 8.5 percent. What is the difference in the present value if you receive these

payments at the beginning of each year rather than at the end of each year?

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