subject
Mathematics, 27.07.2019 04:20 CelesteN64

How much is the lottery really worth? you have to be careful about money. lottery winners sometimes think they are millionaires when in fact they are not as rich as they think. suppose a state runs a lottery in which the grand prize is $1 million dollars. what that means is that the winner is paid $1 million dollars continuously over the next 20 years. assuming that banks pay interest of 10% on borrowed money over the next 20 years, how much is the lottery worth in today's dollars? hint: letting t denote time in years, first solve s' = 0.10s - 50,000, s(0) = so, and then set s(20) 0 and solve for so

ansver
Answers: 2

Another question on Mathematics

question
Mathematics, 21.06.2019 19:30
Vinay constructed this spinner based on the population of teachers at his school according to vinays model what is the probability that he will have a male history teacher two years in a row
Answers: 3
question
Mathematics, 21.06.2019 23:20
Write the equations in logarithmic form 7^3=343
Answers: 1
question
Mathematics, 22.06.2019 01:10
Pamela has a 30-year, 5.75% mortgage on her $250,000 home. she has been paying on it for 5 years, and has recently hit some financial trouble. if her lender agreed to lower the interest rate on her $231,905.47 balance to 5.5%, what will her new payment be for the remainder of the loan?
Answers: 2
question
Mathematics, 22.06.2019 01:30
Two numbers have a sum of 93. if one number is p, express the other number in terms of p.
Answers: 1
You know the right answer?
How much is the lottery really worth? you have to be careful about money. lottery winners sometimes...
Questions
question
History, 11.02.2021 17:10
question
English, 11.02.2021 17:10
question
Mathematics, 11.02.2021 17:10
question
Mathematics, 11.02.2021 17:10
question
English, 11.02.2021 17:10
question
Mathematics, 11.02.2021 17:10