A lottery ticket costs 1. The following table shows the different prizes available together with the chance of winning and the delay before receiving the prize money. Prize 20 Probability of winning 1 in 50 Time before payment 1 day 200 1 in 1,000 1 day 2,000 1 in 50,000 1 week 200,000 1 in 2 million 2 weeks 2 million 1 in 14 million 4 weeks Calculate the expectation of the present value of the prize money assuming an effective rate of interest of 0.016% per day