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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...
Congratulations! You have just won the Lottery. The Lottery Commission informs you that you can choose...
Congratulations! You have just won the Lottery. The Lottery Commission informs you that you can choose between three different pay out options: (1) $500,000 cash payment today, (2) $50,000 cash payments at the end of each year for twenty years, or (3) $1,000,000 in cash in one payment after 20 years. Current CD’s are paying 3.50% annual interest. Which do you choose and why?
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...
You have just won a lottery. Your prize is an annuity with a payment of $50,000 at...
You have just won a lottery. Your prize is an annuity with a payment of $50,000 at the beginning of each year, starting on 1/1/2020, for 10 years. (a) What is the present value of your prize as of 1/1/2020? Use an annual interest rate of 4%. You decide to donate your prize to fund an annual scholarship to a university. The annual scholarship is for $x, given on 5/1 of each year, starting on 5/1/2020, and is supposed to last forever. This scholarship...
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...
6. You just won the lottery! As your prize you will receive $1,200 a month starting in one month for 96 months (8 y...
6. You just won the lottery! As your prize you will receive $1,200 a month starting in one month for 96 months (8 years). If you can earn 8% on your money, what is this prize worth to you today?
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...
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?
6. You just won the lottery! As your prize you will receive $1,200 a month starting in one month for 96 months (8 years). If you can earn 8% on your money, what is this prize worth to you today?
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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