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You are set to receive an annual payment of $12,100 per year for the next 17 years. Assume the interest rate is 7 percent. How

You are set to receive an annual payment of $12,100 per year for the next 17 years. Assume the interest rate is 7 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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$8,682.92

$7,752.61

$8,269.45

$7,364.98

$8,011.03

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