183 Discounted Cash Flow Valuation CHAPTER 6 wing Annuity [L01] You have just won the lottery and will receive 1000.00 in one year. You will receive payments for 30 years, which will increase 5 percent per year. If the appropriate discount rate is 8 percent, what is the present value of your winnings? wing Annuity [LO1] Your job pays you only once a year for all the work you did revious 12 months. Today, December 31, you just received your salary of $50.000 and you plan to spend all of it. However, you want to start saving for retirement beginning next year. You have decided that one year from today you will hegin depositing 5 percent of your annual salary in an account that will earn 11 percent per year. Your salary will increase at 4 percent per year throughout your career. How much money will you have on the date of your retirement 40 years from today? Present Value and Interest Rates [LO11 What ic tha val