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Mr Stark plans to invest in a project that starts to pay $1,000 per month in one year from now (i.e., the end of the

Mr Stark plans to invest in a project that starts to pay $1,000 per month in one year from now (i.e., the end of the 12th month) at an interest rate of 6% p.a. compounded monthly. What is the present value of this project if it lasts for 5 years?

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