{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-05-28T05:05:57-04:00", "answer_date": "2024-05-28 05:05:57", "is_docs_available": "", "is_excel_available": "", "is_pdf_available": "", "count_file_available": 0, "main_page": "student_question_view", "question_id": "1819984", "url": "\/study-help\/questions\/you-have-just-won-your-states-big-lottery-the-mega-1819984", "question_creation_date_js": "2024-05-28T05:05:57-04:00", "question_creation_date": "May 28, 2024 05:05 AM", "meta_title": "[Solved] You have just won your state's big lotter | SolutionInn", "meta_description": "Answer of - You have just won your state's big lottery, the Mega Power Pick-6! The jackpot is $250,000,000. You have the option of | SolutionInn", "meta_keywords": "won,state,s,big,lottery,mega,power,pick-6,jackpot,$250,000,000,option,receiving", "question_title_h1": " You have just won your state's big lottery, the Mega Power Pick-6! The jackpot is $250,000,000. You have the option of receiving a check", "question_title": " You have just won your state's big lottery, the Mega Power", "question_title_for_js_snippet": "You have just won your state's big lottery, the Mega Power Pick 6 The jackpot is $250,000,000 You have the option of receiving a check for $12,500,000 at the end of each of the next 20 years You would receive the first check in a year The state lottery commission also allows you the option of receiving a one time payment of $155,777,629 when you turn in the winning ticket What interest rate is the state lottery commission using to determine the one time payment (Use the present value and future value tables, a financial calculator, a spreadsheet or the formula method for your calculations If using present and future value tables or the formula method, use factor amounts rounded to five decimal places, XXXXXXXX Round the interest rate to the nearest whole percent ) (Click the icon to view the Future Value of $1 table ) (Click the icon to view the Future Value of an Ordinary Annuity table ) (Click the icon to view the Future Value of an Annuity Due table ) (Click the icon to view the Present Value of $1 table ) (Click the icon to view the Present Value of an Ordinary Annuity table ) (Click the icon to view the Present Value of an Annuity Due table ) The state lottery commission is using a(n) 2 interest rate annually to determine the one time payment ", "question_description": "\"image", "transcribed_text": "You have just won your state's big lottery, the Mega Power Pick-6! The jackpot is $250,000,000. You have the option of receiving a check for $12,500,000 at the end of each of the next 20 years. You would receive the first check in a year. The state lottery commission also allows you the option of receiving a one-time payment of $155,777,629 when you turn in the winning ticket. What interest rate is the state lottery commission using to determine the one-time payment? (Use the present value and future value tables, a financial calculator, a spreadsheet or the formula method for your calculations. If using present and future value tables or the formula method, use factor amounts rounded to five decimal places, XXXXXXXX. Round the interest rate to the nearest whole percent.) (Click the icon to view the Future Value of $1 table.) (Click the icon to view the Future Value of an Ordinary Annuity table.) (Click the icon to view the Future Value of an Annuity Due table.) (Click the icon to view the Present Value of $1 table.) (Click the icon to view the Present Value of an Ordinary Annuity table.) (Click the icon to view the Present Value of an Annuity Due table.) The state lottery commission is using a(n) 2% interest rate annually to determine the one-time payment.", "related_book": { "title": "Corporate Financial Accounting", "isbn": "1305041399, 1285078586, 978-1-133-9524, 9781133952428, 978-1305041394, 9781285078588, 1-133-95241-0, 978-1133952411", "edition": "12th edition", "authors": "Carl S. Warren, James M. Reeve, Jonathan E. Duchac", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/278.jpg", "uri": "\/textbooks\/corporate-financial-accounting-12th-edition-278", "see_more_uri": "" }, "free_related_book": { "isbn": "979-8755750806", "uri": "\/textbooks\/blockchain-cryptocurrencies-and-decentralized-finance-for-beginners-be-your-own-bank-get-passive-income-and-automatic-loans-1st-edition-979-8755750806-192004", "name": "Blockchain Cryptocurrencies And Decentralized Finance For Beginners Be Your Own Bank Get Passive Income And Automatic Loans", "edition": "1st Edition" }, "question_posted": "2024-05-28 05:05:57", "see_more_questions_link": "\/study-help\/questions\/business-finance-2024-September-22", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/study-help\/questions\/test-14-1-find-the-general-indefinite-integral-x-xdx-139131", "description": "1. Find the general indefinite integral (x +x)dx 2. 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He aims to understand which of expenses have been over budget in the previous year. 2 You are required to: 3...", "stars": 3 }, { "url": "\/study-help\/questions\/makeorbuy-decision-companion-computer-company-has-been-purchasing-carrying-cases-8332759", "description": "Make-or-Buy Decision Companion Computer Company has been purchasing carrying cases for its portable computers at a purchase price of $57 per unit. The company, which is currently operating below full...", "stars": 3 }, { "url": "\/study-help\/questions\/velshi-printers-has-contracts-to-complete-weekly-supplements-required-by-544322", "description": "Velshi Printers has contracts to complete weekly supplements required by fortysix customers. For the year 2018, manufacturing overhead cost estimates total $600,000 for an annual production capacity...", "stars": 3 }, { "url": "\/study-help\/introduction-to-materials-management\/316-complete-the-following-problem-the-lead-time-is-one-1652815", "description": "3.16. Complete the following problem. The lead time is one week and the demand time fence is the end of week 3. There are 20 on hand. The lot size is 60. Period 1 2 3 4 5 6 Forecast 20 21 22 20 28 25...", "stars": 3 }, { "url": "\/study-help\/introduction-to-materials-management\/315-given-the-following-data-calculate-the-projected-available-balance-1652816", "description": "3.15. Given the following data, calculate the projected available balance and the planned MPS receipts. The lot size is 100. The demand time fence is 2 weeks. Week 1 2 3 4 Forecast 50 50 50 50...", "stars": 3 }, { "url": "\/study-help\/introduction-to-materials-management\/313-given-the-following-data-can-an-order-for-20-1652818", "description": "3.13. Given the following data, can an order for 20 more units for delivery in week 5 be accepted? If not, what do you suggest be done? There are zero units on hand. Week 1 2 3 4 5 6 7 8 Customer...", "stars": 3 } ], "next_back_navigation": { "previous": "\/study-help\/questions\/description-after-reading-about-the-statement-of-cash-flows-give-1819983", "next": "\/study-help\/questions\/required-information-the-foundational-15-algo-lo21-lo22-lo23-lo24-1819985" }, "breadcrumbs": [ { "name": "Study help", "link": "https:\/\/www.solutioninn.com\/study-help\/questions-and-answers" }, { "name": "Business", "link": "https:\/\/www.solutioninn.com\/study-help\/questions-and-answers\/business" }, { "name": "Accounting", "link": "https:\/\/www.solutioninn.com\/study-help\/questions\/business-accounting" }, { "name": " You have just won your state's big lottery, the Mega Power", "link": "https:\/\/www.solutioninn.com\/study-help\/questions\/you-have-just-won-your-states-big-lottery-the-mega-1819984" } ], "skill_details": { "skill_id": "9", "skill_name": "Accounting", "parent_id": "1" } }d": "1" } }