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What is powerball assuming for an annual interest

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Reference no: EM132171829

Judy F. from Colorado won the Powerball lottery with a jackpot of $133.2 million. Judy could choose to receive the entire jackpot amount split into 30 equal, annual payments with the first payment beginning one year from today, or to receive a lump sum cash payment today of $84,607,397. According to the Powerball website, "The cash value option, in general, is the amount of money required to be in the jackpot prize pool, on the day of the drawing, to fund the estimated jackpot annuity prize." Given this information, what is Powerball assuming for an annual interest rate over the next 30 years?

Reference no: EM132171829

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