Register

Jose wants to cash in his winning lottery ticket. He can either receive eight, $6,000 annual payments starting today, or he can receive one lump-sum payment today based on a 3% …

Jose wants to cash in his winning lottery ticket. He can either receive eight, $6,000 annual payments starting today, or he can receive one lump-sum payment today based on a 3% …
50.1k views
2 votes
Jose wants to cash in his winning lottery ticket. He can either receive eight, $6,000 annual payments starting today, or he can receive one lump-sum payment today based on a 3% annual interest rate. What would be the lump-sum payment?

User Jiverson
by
7.7k points

1 Answer

2 votes
The sum payment would have to be$300
User Jespertheend
by
8.1k points
← Prev Question Next Question →

Related questions

Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.4m questions

12.2m answers

Other Questions

Who was Adam Smith ? Anybody?
What can turn igneous rock into sediment?
In what way did the GI Bill contribute to the growth of professional and white-collar jobs ? A.by providing US laborers with new job-training programs B.by giving US veterans assistance to purchase a new
What is meant by data mining ?
What is the best way to describe a stock market?
Link Copied!