Monday
April 21, 2014

Homework Help: Statisics

Posted by Val on Wednesday, July 18, 2012 at 11:50am.

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 ...
Statistics - The state lottery claims that its grand prize is $1 million. The ...
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 ...
Math Probability - A certain state's lottery game, LOTTO, is set up so that each...
Math Probability - A certain state's lottery game, LOTTO, is set up so that each...
Math Probability *Repost* - A certain state's lottery game, LOTTO, is set up so ...
math - Suppose a state lottery prize of $2 million is to be paid in 20 payments ...
Math 142 - 800 hundred chances are sold at $2 apiece for a raffle. There is a ...
stats math - Suppose you are selling raffle tickets for $3.00 each. You have the...

Search
Members