You have just won the lottery and will receive 550000 in, Finance Basics

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You have just won the lottery and will receive 550000 in

Question: You have just won the lottery and will receive $550,000 in one year. You will receive payments for 29 years, which will increase 3 percent per year. The appropriate discount rate is 11 percent.

Required: What is the present value of your winnings?

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Finance Basics: You have just won the lottery and will receive 550000 in

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Finance Basics: You have just won the lottery and will receive 550000 in

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