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As an employee in the Lottery Commission, your job is to design a new prize. Your...
Jack and Diane are lottery winners. They hold the ticket to the Grand Prize in the...
Jack and Diane are lottery winners. They hold the ticket to the Grand Prize in the "Set for Life" Prize that makes 20 consecutive annual payments of $50,000 starting immediately. There is one hitch: the eleventh payment (to be received at the end of year 10) is not $50,000 but only $20,000 (that is, this payment is $30,000 LESS than the other 20). Which of the following comes closest to the present value of the prize if interest rates are...
You just won the lottery! You can elect to receive your prize in one of four...
You just won the lottery! You can elect to receive your prize in one of four ways: a) $1,000,000 now b) $1,400,000 at the end of five years e) $75,000 per year in perpetuity, with payments made at the end of each year (so your first payment comes one year from today) d) $150,000 per year for the next ten years, with payments made at the end of each year (so your first payment comes one year from today) Suppose...
PLEASE help with question 17 and 18... 17-if you win the lottery, and the prize is...
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?
Congratulations, you have just won $10,000,000 in the Power Ball Lottery. However, as is often the...
Congratulations, you have just won $10,000,000 in the Power Ball Lottery. However, as is often the custom with lotteries, you have the following choices: Alternative A: taking the entire ten million dollars in one lump sum today Alternative B: receiving $500,000 at the end of the year for each of the next 20 years. Please send your computed answers base on both alternatives to me along with your reasoning why you choose either alternative A or alternative B. If the...
Kershaw Bales won the state lottery and was given four choices for receiving her winnings. Receive...
Kershaw Bales won the state lottery and was given four choices for receiving her winnings. Receive $500,000 right now. Receive $540,000 in one year. Receive $50,000 at the end of each year for 20 years. Receive $45,000 at the end of each year for 30 years. Assuming Kershaw can earn interest of eight percent compounded annually, which option should Kershaw choose? Use Excel or a financial calculator for computation. Round answers to the nearest dollar. 1. Answer 0 2. Answer...
Lottery Prize (millions) $ 14.00 millions Annuity (millions) $
Lottery Prize (millions) $ 14.00 millions Annuity (millions) $ 1.00 per year APR ( R ) 7.00% annual N (begin now) in years 25.00 years Benefit of lumpsum option (Excel) Gain/Loss of ???? millions Benefit of lumpsum option (VBA) Gain/Loss of ???? millions Benefit of lumpsum (Math, Extra Credit) Gain/Loss of ???? millions Juan has just won a lottery. He can get $14 million now (after-tax, lumpsum or one-time option), or he can get $1 million annually for 25...
Dana just won $1,000,000 in the state lottery. Her prize can be taken either in the...
Dana just won $1,000,000 in the state lottery. Her prize can be taken either in the form of $40,000 at the end of each of the next 26 years (annuities), or as a single amount of $500,000 paid immediately. If the discount rate is 4% annually, which alternative she should take? and why? Select one: O a. She should take the annuities because they are $112,718 higher in value than the single amount O b. She should take the annuities...
You have won the lottery and your prize is $1,000,000. Since the parentheses on said that...
You have won the lottery and your prize is $1,000,000. Since the parentheses on said that the winner had the option of taking a lump sum or an annuity you have to decide the best deal for you. Your choices are: 1) $1,000,000 in 10 years, present Valve 2) 10 annual payments of $100,000 which begin in one year, Nesen vowe Or, 3) a lump sum of $675,000. You figure you could earn 8% on your money. Ignoring taxes, which...
You have won the lottery and your prize is $1.000.000. Since the parentheses said that the...
You have won the lottery and your prize is $1.000.000. Since the parentheses said that the winner had the option of taking a lump sum or an annuity you have to decide me best deal for you. Your choices are: 1) $1,000,000 in 10 years, present Valve 2) 10 annual payments of $100,000 which begin in one year, Mesen Vowe Or, 3) a lump sum of $675,000. You figure you could earn 8% on your money. Ignoring taxes, which is...
A UK lottery prize pays 1000$ at the end of the first year, 2000$ at the second, 3000$ the third, and so on for 20 years...
A UK lottery prize pays 1000$ at the end of the first year, 2000$ at the second, 3000$ the third, and so on for 20 years. If there is only one prize in the lottery, 10000 tickets are sold, and you could invest your money elsewhere at 15 percent interest, how much is each ticket worth, on average ? Answer : 3.98 $ Can anyone solve it by converting Arithmetic Series to Annuity first, and then converting Annuity to Present...
Jack and Diane are lottery winners. They hold the ticket to the Grand Prize in the "Set for Life" Prize that makes 20 consecutive annual payments of $50,000 starting immediately. There is one hitch: the eleventh payment (to be received at the end of year 10) is not $50,000 but only $20,000 (that is, this payment is $30,000 LESS than the other 20). Which of the following comes closest to the present value of the prize if interest rates are...
You just won the lottery! You can elect to receive your prize in one of four ways: a) $1,000,000 now b) $1,400,000 at the end of five years e) $75,000 per year in perpetuity, with payments made at the end of each year (so your first payment comes one year from today) d) $150,000 per year for the next ten years, with payments made at the end of each year (so your first payment comes one year from today) Suppose...
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?
Dana just won $1,000,000 in the state lottery. Her prize can be taken either in the form of $40,000 at the end of each of the next 26 years (annuities), or as a single amount of $500,000 paid immediately. If the discount rate is 4% annually, which alternative she should take? and why? Select one: O a. She should take the annuities because they are $112,718 higher in value than the single amount O b. She should take the annuities...
You have won the lottery and your prize is $1,000,000. Since the parentheses on said that the winner had the option of taking a lump sum or an annuity you have to decide the best deal for you. Your choices are: 1) $1,000,000 in 10 years, present Valve 2) 10 annual payments of $100,000 which begin in one year, Nesen vowe Or, 3) a lump sum of $675,000. You figure you could earn 8% on your money. Ignoring taxes, which...
You have won the lottery and your prize is $1.000.000. Since the parentheses said that the winner had the option of taking a lump sum or an annuity you have to decide me best deal for you. Your choices are: 1) $1,000,000 in 10 years, present Valve 2) 10 annual payments of $100,000 which begin in one year, Mesen Vowe Or, 3) a lump sum of $675,000. You figure you could earn 8% on your money. Ignoring taxes, which is...
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