15 You have just won the lottery and will receive $540,000 in one year. You will receive payments for 23 years, and the payments will increase 4 percent per year. If the appropriate discount rate is 10 percent, what is the present value of your winnings? Skipped eBook Multiple Choice References $60,306 $23,696,967 O $23,696,967 $6,522,706 $6.261798 17 You want to buy a new sports car from Muscle Motors for $38,000. The contract is in the form of an annuity due for 72 months at an APR of 8.50 percent What will your monthly payment be? eBook References Multiple Choice 5684.24 $637.29 $670.83 $675.58 $65741