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You have won a small lottery in which you will receive a series of payments forever.The payments start at $1,026 received today and grow effectively

You have won a small lottery in which you will receive a series of payments forever.The payments start at $1,026 received today and grow effectively at 2.50% a year forever.Given an APR of 8.20% compounded quarterly, what is the present value of your lottery winnings?

Question 20 options:

$17,750

$18,217

$18,684

$19,151

$19,618

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