If you played a 4 digit lottery everyday how often (in years) would you win , assuming you have average luck?
If you played a 4 digit lottery everyday how often (in years) would you win ,...
How would you apply these resolutions (Win-Lose, Lose-Lose, or Win-Win) in everyday life? How effective do you think these resolutions would be in a professional environment?
Many states have a lottery game, usually called Pick-4, in which you pick a 4-digit number (for instance, 3129). During the lottery drawing, there are four bins each containing balls labeled 0 through 9. One ball is drawn at random from each bin to select the winning lottery number . a. If you buy one ticket with one 4-digit number, what is the probability that you will win this game? b. What is the probability that the 4-digit number drawn...
Suppose you have just won a $5 million lottery today. When you win the lottery, you generally receive payments of the lottery jackpot over twenty years. Therefore, your $5 million lottery winnings consist of twenty annual payments of $250,000 each. But wait! Don’t forget about the taxes. The IRS will take 25 percent of each check, so you are left with $187,500 each year. Assume that the annual interest rate is 3%. So, if someone offered you a lump-sum of...
Suppose you have just won a $5 million lottery today. When you win the lottery, you generally receive payments of the lottery jackpot over twenty years. Therefore, your $5 million lottery winnings consist of twenty annual payments of $250,000 each. But wait! Don’t forget about the taxes. The IRS will take 25 percent of each check, so you are left with $187,500 each year. Assume that the annual interest rate is 3%. So, if someone offered you a lump-sum of...
PLEASE help with question 17 and 18... 17-if you win the lottery, and the prize is $50,000 a year for the next 15 years, what lump sum amount would you accept today, assuming 5% interest? 18-you deposit $8000 into a bank account today and earn 6% interest for 5 years, compounded semi annually. What will you have at the end?
If you win the $1,000,000 lottery this weekend and request the cash value vs. the annual payout, what will you receive if today's interest rates are 5%? (Hint: lotteries always payout over 20 years) If you invest $1,000 per year for 20 years, how much will you have if you average 8% return?
Lottery statistics question. In the New York State Lottery there is a game called Win 4. The object of the game is to select, in order, each of the correct four single digit numbers 0-9 on the random drawing (i.e. each of the 4 numbers will be drawn independently and will result in a 4 digit number from 0000 to 9999 which you must get the numbers in the correct order to win). Suppose you want to play the Win...
Question A1 [1. You win a prize in the lottery and you are offered to take Prize A: a £40,000 lump sum or Prize B: £15,000 a year for 3 years. The current rate of inflation (discount rate) is 4%. State, with evidence, which prize you would prefer to have.
LOUISIANA 4. Assume that during Fall Break, you played - and won! -the lottery. The Lottery Commission people have given you 8 different options regarding how you receive your winnings. Your required return on all investments is 8% and all of the cash flows are after tax cash flows. Which of the 8 following options should you choose? (A) $7,500,000 in cash today (B) $75,000,000 in cash in 30 years (C) $600,000 a year forever, with the first payment in...
You win the lottery! The lottery offers you $5 million today OR $7 million in 5 years. The interest rate is 5%. Calculate the present value of waiting to receive the $7 million (4 points). From a purely financial perspective, should you wait or take the money now? (2 points) Would your answer be different if the interest rate were 10%? Why or why not? (2 points)