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Thus in one year you receive 135 million in two years you

Calculating Present Values You just won the TVM Lottery. You will receive $1 million today plus another 10 annual payments that increase by $350,000 per year. Thus, in one year you receive $1.35 million. In two years, you get $1.7 million, and so on. If the appropriate interest rate is 8 percent, what is the present value of your winnings?

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Finance Basics: Thus in one year you receive 135 million in two years you

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