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Which is worth more over 10 years — a $10,000 annuity paying 5% per year or a $10,000 stock investment that pays no dividends but grows 5% per year in value? Explain with respect to the tax implications of receiving annual payments versus holding unrealized capital gains. I don't know the NPV formula. I know the PV formula. Whats the difference in NPV and PV. Can someone help me solve this.
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