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Questions 1 You have just won the lottery and will receive $470,000 in one year. You will receive payments for 28 years, and the payments

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You have just won the lottery and will receive $470,000 in one year. You will receive payments for 28 years, and the payments will increase 4 percent per year. If the appropriate discount rate is 11 percent, what is the present value of your winnings? points Multiple Choice $5,630,634 $25,296 $34,887,285 $34,887,285 $5,405,409

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