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You win a lottery that will pay you $570,000 in one years time. You will receive payments for 22 years, which will increase 5 percent

You win a lottery that will pay you $570,000 in one years time. You will receive payments for 22 years, which will increase 5 percent per year. The discount rate is 12.00% What is the present value (PV) of your lottery prize? Hint: this is a growing annuity (BA 2 PLUS calculator computation)

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