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What is the present value of the stream of payments

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Question - You have just won the CPA-T Best graduate prize of TSHS 11,000,000 by the National Board of Accountants and Auditors. Your winnings will be paid to you in 26 equals annual installments with the first payment made 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 stream of payments you will receive?

Reference no: EM132827502

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