You just won the Ontario Lottery. You will receive $1 million today plus another 10 annual payments that increase by $275,000 per year. Thus in one year you receive 1.275 million and in 2 years receive 1.55 million etc. If the interest rate is 9% what is the PV of your earnings?( please include the equation used)

You just won the Ontario Lottery. You will receive $1 million today plus another 10 annual payments that increase by $275,000 per year. Thus in one year you receive 1.275 million and in 2 years receive 1.55 million etc. If the interest rate is 9% what is the PV of your earnings?( please include the equation used)

You just won the Ontario Lottery. You will receive $1 million today plus another 10 annual payments that increase by $275,000 per year. Thus in one year you receive 1.275 million and in 2 years receive 1.55 million etc. If the interest rate is 9% what is the PV of your earnings?( please include the equation used)