Respond to the following: You have just won the lottery and will receive $1,000,000 in one year.

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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 3 percent per year.

If the appropriate discount rate is 7 percent, what is the present valve of your winnings?

Related Book For answer-question

Fundamentals of corporate finance

ISBN: 978-0073382395

9th edition

Authors: Stephen Ross, Randolph Westerfield, Bradford Jordan

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Posted Date: Jul 06, 2018 09:28 AM

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Respond to the following: You have just won the lottery and will receive $1,000,000 in one year.

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Fundamentals of corporate finance

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