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You have won a small lottery in which you will receive a series of payments forever. The payments start at $928 received today and grow
You have won a small lottery in which you will receive a series of payments forever. The payments start at $928 received today and grow effectively at 1.10% a year forever. Given an APR of 5.40% compounded quarterly, what is the present value of your lottery winnings? options: $21,091 $21,646 $22,201 $22,756 $23,311
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