Scheduled to receive annual payments

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You are scheduled to receive annual payments of $9,900 for each of the next 25 years. Your discount rate is 9 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?

$10,791

$9,900

$9,350

$9,640

$8,752

Reference no: EM13978792

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