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Compute what is present value of the payments will receive

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Problem 1: You have just won theStrayer Lottery jackpot of $11,000,000. You will be paid in 26 equal annual installments beginning immediately. If you had the money now, you could invest it in an account with a quoted annual interest rate of 9% with monthly compounding of interest. What is the present value of the payments you will receive?

Reference no: EM132703003

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