You have just won the lottery and will receive $480,000 in one year. You will receive payments for 21 years, and the payments will increase 4 percent per year. If the appropriate discount rate is 10 percent, what is the present value of your winnings? Multiple Choice $64,863 $17,979,827 $17,979,827 $5,315,088 $5,536,550

You have just won the lottery and will receive $480,000 in one year. You will receive payments for 21 years, and the payments will increase 4 percent per year. If the appropriate discount rate is 10 percent, what is the present value of your winnings?

Multiple Choice

  • $64,863
  • $17,979,827
  • $17,979,827
  • $5,315,088
  • $5,536,550

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