Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Sep 07, 2024

winners of the Georgia Lotto drawing are given the choice of receiving the winning amount divided equally over 22 years or as a lump sum

winners of the Georgia Lotto drawing are given the choice of receiving the winning amount divided equally over 22 years or as a lump sum cash option amount. The cash option amount is determined by discounting the annual winning payment at 8% over 22 years. This week the lottery is worth 19 million dollars to a single winner. what would the cash option payout be?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Bank Merger Wave

The Bank Merger Wave

Authors: Gary Dymski

1st Edition

0765603829, 978-0765603821

More Books

Students also viewed these Finance questions

Question

★★★★★

What nuclide is produced in the following radioactive decays? (a) A decay of 2394Pu; (b) decay of 2411Na; (c) + decay of 158O.

Answered: 1 week ago

Question

★★★★★

=+26.25. If f is integrable over [0, 2 m ], define its Fourier coefficients as [2"eim*f(x)dx. Show that these coefficients uniquely determine f up to sets of measure 0.

Answered: 1 week ago

Question

★★★★★

Toyota has decided to set up regional warehouses where some variants of the Scion will be customized and shipped to dealers on demand. Customizing and shipping on demand will raise production and...

Answered: 1 week ago

Question

★★★★★

1. BE.12.07 2. EX.11.01 3. BE.12.03.ALGO 4. BE.12.06.ALGO 5. EX.12.01.ALGO 6. BE.12.01.ALGO 7. BE.12.08.ALGO 8. BE.11.07 Using the following accounts and balances, prepare the "Stockholders' Equity"...

Answered: 1 week ago

Question

★★★★★

I want to solve it to me not correct it Case5 Salman Limited is engaged in the manufacturing of two products, A and B that go through same manufacturing process. The company uses activity costing...

Answered: 1 week ago

Question

★★★★★

Problem 8: A 25 cm diameter pipe carries oil of Sp. Gr. 0.9 at a velocity of 3 m/s. At another section the diameter is 20 cm. Find the velocity at this section and also mass rate of flow of oil.

Answered: 1 week ago

Question

★★★★★

Create new users called andrew leclerck, aya aliyev, and mia sun. Their login names should be andrew-leclerck, aya-aliyev, and m-sun respectively. Create a group called admins with GID 2127. Add...

Answered: 1 week ago

Question

★★★★★

Becker & Smith, CPAs, performs a financial statement review for BAM Markets ( BAM ) . Caroline, the manager on the job, learns that Don, a member of the review team, violated the independence rules...

Answered: 1 week ago

Question

★★★★★

Milk Milk is one of the few remaining dairy farms that still supplies fresh milk for sale to customers through direct farm purchase, home delivery or selected store outlets. Milk is obtained from the...

Answered: 1 week ago

Question

★★★★★

Degnan Dance Company, Inc., a manufacturer of dance and exercise apparel, is considering replacing an existing piece of equipment with a more sophisticated machine. The following information is...

Answered: 1 week ago

Question

★★★★★

(Appendices) ENDING INVENTORY, COST OF GOODS SOLD, AND GROSS MARGIN. Wilson Company sells a single product. At the beginning of the year, Wilson had 120 units in stock at a cost of $8 each. During...

Answered: 1 week ago

Question

★★★★★

(Appendices) SALES RETURNS. Swan and Bloom, Inc., is a wholesaler of novelty items to small stores. All sales are on credit with no discount offered. During March, Swan and Bloom accepted the...

Answered: 1 week ago

Question

★★★★★

(Appendices) INTERNAL CONTROL FOR SALES. Alcoa Building Products distributes aluminum siding and related building products to building contractors, all of whom purchase on credit. LO6 REQUIRED: List...

Answered: 1 week ago

Previous Question Next Question