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You have won a small lottery in which you will receive a series of payments forever. The payments start at $1,033 received today and grow

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You have won a small lottery in which you will receive a series of payments forever. The payments start at $1,033 received today and grow effectively at 2.60% a year forever. Given an APR of 8.40% compounded quarterly, what is the present value of your lottery winnings? $18,036 $18,498 $18,961 $19,423 $19,886

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