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10. You have just been notified that you won the lottery. You will be paid 10 annual payments of $1,000,000, with the first one starting

10. You have just been notified that you won the lottery. You will be paid 10 annual payments of $1,000,000, with the first one starting today. Using an interest rate of 7% (annual compounding), how much did you really win (in terms of present value)? a. $6,345,879.98 b. $7,246,887.91 c. $7,515,232.25 d. $10,000,000.00

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