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tom is comparing two investments. investment a pays an annual $10000 stream of cash flows that last for 25 years. each year the investment pays out at the beginning of the year. investment b pays a similar $10000 stream of cash flows, however, the payments are made at the end of the year. also, investment b does not make a payment in year 17. both investments pay a 4.25% rate of return. what is the difference in present value between the two investments?
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