The present value of your winnings

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You have just won the lottery and will receive $570,000 in one year. You will receive payments for 17 years, which will increase 5 percent per year. The appropriate discount rate is 10 percent.

What is the present value of your winnings?

a) $5,981,294

b) $112,771

c) $13,739,835

d) $13,739,835

$6,230,515

Reference no: EM131493128

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