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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 8
You just won the TVM Lottery. You will receive $ million today plus another annual payments that increase by $ per year. Thus, in one year, you receive $ million. In two years you get $ million, and so on If the appropriate interest rate is percent, what is the value of your winnings today?
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