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P6-37 Growing Annuity (LOT] You have just won the lottery and will receive $530,000 in one year. You will receive payments for 20 years, which

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P6-37 Growing Annuity (LOT] You have just won the lottery and will receive $530,000 in one year. You will receive payments for 20 years, which will increase 4 percent per year. The appropriate discount rate is 11 percent 16.66 points Required: What is the present value of your winnings

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