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You are scheduled to receive annual payments of $5,100 for each of the next 7 years. The discount rate is 7 percent compounded annually .

You are scheduled to receive annual payments of $5,100 for each of the next 7 years. The discount rate is 7 percent compounded annually. What is the difference in the present value if you receive these payments at the beginning of each year (Annuity due) rather than at the end of each year (Ordinary Annuity)?

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