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You are set to receive an annual payment of $11,000 per year for the next 16 years. Assume the interest rate is 5.9 percent. How

You are set to receive an annual payment of $11,000 per year for the next 16 years. Assume the interest rate is 5.9 percent. How much more are the payments worth if they are received at the beginning of the year rather than the end of the year?

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