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8 You just won the TVM Lottery. You will receive $1 million today plus another 10 annual payments that increase by $500,000 per year. Thus,

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8 You just won the TVM Lottery. You will receive $1 million today plus another 10 annual payments that increase by $500,000 per year. Thus, in one year you receive $1.5 million. In two years, you get $2 million, and so on. If the appropriate interest rate is 6 percent, what is the present value of your winnings? (Enter your answer in dollars, not millions of dollars (e.g., 1,234,567). Do not round intermediate calculations and round your final answer to 2 decimal places (e.g., 32.16).) 00:54:55 Present value ta

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