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Tara receives $450 on the first of each month, Jon receives $450 on the last day of each month. Both Tara and Jon will receive payments for the next four years. At a 9.5% discount rate, what is the difference in the present value of these two sets of payments? EXPLAIN

a. 3.75%

b. 4.47%

c. 4.93%

d. 5.45%

e. 5.67%

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92319523

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