You just won a lawsuit. You will receive $1 million today plus another 10 annual payments that increase by $275,000 per year. Thus, in one year you receive $1.275 million. In two years you get $1.55 million, and so on. If the appropriate interest rate is 8 percent, what is the present value of the settlement.

I know the answer is $16,698,928.44 but I don't know the work to get to that answer. Needs to be done with BA II Plus financial calculator.