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You have just won the Strayer Lottery jackpot of $ 1 1 , 0 0 0 , 0 0 0 . You will be paid

You have just won the Strayer Lottery jackpot of $

11, 000, 000 .

You will be paid in

26

equalannual installments beginning immediately. If you had the money now, you could invest itin an account with a quoted annual interest rate of

9 %

with monthly compounding ofinterest. What is the present value of the payments you will receive?

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