Determine the present value
You've just won the lottery and will receive $1,000,000 in one year. You will receive payments for 30 years and payments will raise 3.3 percent for each year. If appropriate discount rate is 7.3 percent, determine the present value of your winnings?
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You've just won the lottery and will receive $1,000,000 in one year. You will receive payments for 30 years and payments will raise 3.3 percent for each year. If appropriate discount rate is 7.3 percent, determine the present value of your winnings
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