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Growing Annuity You have just won the lottery...

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Growing Annuity You have just won the lottery and will receive $1,000,000 in one year. You will receive payments for 30 years, which will increase 5 percent per year. The appropriate discount rate is 8 percent. Required: What is the present value of your winnings? (Do not include the dollar sign ($). Round your answer to 2 decimal places. (e.g., 32.16)) Present value $

 

Paper#11833 | Written in 18-Jul-2015

Price : $25
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