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You just won a lottery that makes payment at the end of the year annually forever. The first payment will be $1,191 and will be
You just won a lottery that makes payment at the end of the year annually forever. The first payment will be $1,191 and will be paid one year from today. Every year thereafter, the payments will increase by 2.2 percent annually. What is the present value of your prize at a discount rate of 8.7 percent
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