Growing Annuity [\ LO1] You have just won the lottery and will receive $1.8 million in one year. You will receive payments for 30 years, and the payments will increase by 2.7 percent per year. If the appropriate discount rate is 5.4 percent, what is the present value of your winnings? Present Value and Interest Rates [[] LO1] What is the relationship between the value of an annuity and the level of interest rates? Suppose you just bought an annuity with 13 annual payments of $10,000 per year at a discount rate of 10 percent per year. What happens to the value of your investment if the discount rate suddenly drops to 5 percent? What if the discount rate rate suddenly rises to 15 percent