P6-37 Growing Annuity [LO1] You have just won the lottery and will receive $520,000 in one year. You will receive payments for 21 years, and the payments will increase 3 percent per year. If the appropriate discount rate is 12 percent, what is the present value of your winnings? Multiple Choice O O O O $4,591,596 $4,782,913 $27,777,249 $48.131 $27,777,249

P6-37 Growing Annuity [LO1] You have just won the lottery and will receive $520,000 in one year. You will receive payments for 21 years, and the payments will increase 3 percent per year. If the appropriate discount rate is 12 percent, what is the present value of your winnings? Multiple Choice O O O O $4,591,596 $4,782,913 $27,777,249 $48.131 $27,777,249

PFIN (with PFIN Online, 1 term (6 months) Printed Access Card) (New, Engaging Titles from 4LTR Press)

6th Edition

ISBN:9781337117005

Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Chapter2: Using Financial Statements And Budgets

Section: Chapter Questions

Problem 5FPE

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