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You have just won the lottery and will receive 540000 as

You have just won the lottery and will receive $540,000 as your first payment one year from now. You will receive payments for 26 years. The payments will increase in value by 4% each year. The appropriate discount rate is 10%. What is the present value of your winnings?

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Finance Basics: You have just won the lottery and will receive 540000 as

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