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You just won the TVM Lottery. You will receive $ 1 million today plus another 1 0 annual payments that increase by $ 5 7

You just won the TVM Lottery. You will receive $1 million today plus another 10 annual payments that increase by $570,000 per year. Thus, in one year, you receive $1.57 million. In two years you get $2.14 million, and so on. If the appropriate interest rate is 6.7 percent, what is the value of your winnings today?

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