You have just won the Strayer 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.

Calculate the present value of the payments you will receive. Show your calculations using formulas in your paper or in an attached spreadsheet file.

Explain why there is a difference between the present value of the Strayer lottery jackpot and the future value of the $26$ annual payments based on your calculations and the information provided.