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You have won a small lottery in which you will receive a series of payments forever. The payments start at $1,005 received today and grow
You have won a small lottery in which you will receive a series of payments forever. The payments start at $1,005 received today and grow effectively at 2.20% a year forever. Given an APR of 7.60% compounded quarterly, what is the present value of your lottery winnings? $17,837 $18,319 $18,801 $19,283 $19,765
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