Question: Calculating Present Values You won the TVM Lottery. You will receive $1 million today plus another 10 annual payments that increase by $335,000 per year.

Calculating Present Values You won the TVM Lottery. You will receive $1 million today plus another 10 annual payments that increase by $335,000 per year. Thus, in one year you receive $1.335 million. In 2 years, you get $1.67 million, and so on. If the appropriate discount rate is 5.8 percent, what is the present value of your winnings?

Please answer using excel spreadsheet with formula shown

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