Problem 6-12 Calculating EAR (LO4] Find the EAR in each of the following cases: (Use 365 days a year. Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.) Effective Rate (EAR) % Stated Rate (APR) 8.7 % 17.7 13.7 10.7 Number of Times Compounded Quarterly Monthly Daily Infinite Problem 6-37 Growing Annuity [LO1] You have just won the lottery and will receive $1,000,000 in one year. You will receive payments for 25 years and the payments will increase by 2.3 percent per year. If the appropriate discount rate is 6.3 percent, what is the present value of your winnings? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Present value