What proportion of sales will the state distribute

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Reference no: EM131916473

1. Ursula makes quarterly (end of period) payments of $600 into a pension fund earning 10 percent per year compounded quarterly for 3 years. How much will she have in 3 years?

$7,944.00

$8,277.33

$8,484.26

$7,200.00

2. The Missouri lotto awarded a prize of $420,000 a year for the next 25 years starting today. If the state sold $18,500,000 in lotto tickets, what proportion of the sales will the state distribute if it earns 8% annually on invested funds?

26.17%

24.23%

56.75%

25.72%

Reference no: EM131916473

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