Choice of receiving the winning amount

Reference no: EM13988399

Winners of the Georgia Lotto drawing are given the choice of receiving the winning amount divided equally over 20 years or as a lump-sum cash option amount. The cash option amount is determined by discounting the winning amount at 7% over 20 years. This week the lottery is worth $6 million to a single winner. What would the cash option payout be?

Reference no: EM13988399

Questions Cloud

Why does al as (al sheet) react with hcl : Why does Al as (Al sheet) react with HCl and Al as (Al foil) not react with HCl? and why do they both not react with a weak acid?and why does steel neither react with a weak nor a strong acid?

Why do displacement reactions produce hydrogen : Why do displacement reactions produce hydrogen? eg: nails dipped in a solution of acetic acid used to clean old pennies.

A company just completed a physical inventory count : Goods that have not arrived by December 31 from a supplier amounted to $4,550 with the terms FOB shipping point.

Compare the different definitions of terrorism : Compare and contrast the different definitions of terrorism. Most definitions include the use of violence to create fear. The Department of State focuses on sub-national groups

Choice of receiving the winning amount : Winners of the Georgia Lotto drawing are given the choice of receiving the winning amount divided equally over 20 years or as a lump-sum cash option amount. The cash option amount is determined by discounting the winning amount at 7% over 20 years..

Determine the net force of gravity acting on the moon : Determine the net force of gravity acting on the Moon during an eclipse when it is directly between Earth and the Sun. Assume that the Moon is located at the origin of a coordinate axis and that the Earth is in the positive direction.

Developing a model to explain and predict sales : A national distributor of "Eagle" brand snacks is attempting to develop a model to explain sales of their product. To do so, data have been gathered on monthly sales (measured in hundreds of dollars) from its many marketing areas. From these, sixty o..

Calculate about point point p : Determine the net torque on the 2.8-m-long uniform beam shown in the figure. All forces are shown. (Figure 1)Calculate about point C the CM. Take counterclockwise torques to be positive. Calculate about point point P. at one end. Take counterclockwi..

Show the fifteen year solution : In January 2001 you purchased a home for $250,000 with a 30 year mortgage with a 6% interest rate. The down payment was $50,000 and the fees paid upfront are $2500. After fifteen years of payments you noticed that new 30 year rates are at 4% and 1..

User Account

All Pages