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You are scheduled to receive annual payments of $9,400 for each of the next 23 years. The discount rate is 7.0 percent. What is the

You are scheduled to receive annual payments of $9,400 for each of the next 23 years. The discount rate is 7.0 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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