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1. Your clients brother has fallen seriously ill and would not be able to work for the next two years. Fortunately, his insurance company has

1. Your clients brother has fallen seriously ill and would not be able to work for the next two years. Fortunately, his insurance company has agreed to pay him $2,000 a month for the next two years, with the first payment in one months time. If the current effective interest rate is 6.17% p.a., your client would like to know what is the present value of this stream of cash flows?

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