You have just won the lottery and will receive $630 , 000 in one year. You will receive payments
for 16 years, and the payments will increase 3 percent per year. If the appropriate discount rate is
11 percent, what is the present value of your winnings? Multiple Cholce $18 , 187 , 893 $18 ,
187 , 893 $5 , 495 , 540 $5 , 275 , 718 $118 , 624 You decided to take advantage of the Black
Friday deals and buy kitchen cabinets at Home Depot. You will be paying for the cabinets with a
Home Depot consumer loan in the amount $5 , 430 . To pay off the loan you will be required to
make monthly payments for 5 years. The loan interest rate is 6 percent per year. Calculate the
amount of each payment. $77.83 $99.80 $104.98 $77.28 $98.32