Saturday
December 20, 2014

Homework Help: Statistics

Posted by Val on Sunday, July 15, 2012 at 3:00pm.

The state lottery claims that its grand prize is $1 million. The lucky winner will receive $50,000 upon presentation of the winning ticket plus $50,000 at the end of each year for the next 19 years. Why isn't this really a million-dollar prize? What would it actually be worth in dollars to you? What would the twenty yearly payments need to be for the present value of the lottery to be $1 million?

Answer this Question

First Name:
School Subject:
Answer:

Related Questions

Statisics - The state lottery claims that its grand prize is $1 million. The ...
Statisics - The state lottery claims that its grand prize is $1 million. The ...
Math - HELP A Certain state's lottery LOTTO, is set up so that each player pays...
Statistics - A lottery ticket has a grand prize of $28 million. The probability ...
statistic - A lottery ticket has a grand prize of $28 million. The probability ...
Statistics - A lottery ticket costs $1 and the prize is $28,000,000. The ...
Math - A lottery has a grand prize of $180,000, two runner-up prizes of $22,500 ...
mathematics - the theoretical probability of winning the lottery is 1/1,000,000,...
geometry - Suppose you buy 1 ticket for $1 out of a lottery of 3,000 tickets. If...
MBA Finance - Sally has won the grand prize in a lottery and must choose between...

Search
Members