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You are set to receive an annual payment of $11,000 per year for the next 16...

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Finance

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

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Transcribed Image Text

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

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