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

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You have just won the lottery and will receive $470,000 in one year. You will receive Dayments for 28 years, and the payments will increase 5 percent per year. If the appropriate discount rate is 11 percent, what is the present value of your winnings? Multiple Choice $29,293,648 $29,293,648 $6,180,597 $5,933,373 $25,296

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