Question

Melissa has bought a $2 lottery ticket every week for the past 20 years. This week, she won for the first time $2,000, before 30% taxes that are taken out. Compare these winnings to her total investment, and explain if it was a worthwhile investment for her?

Answer 1

No it is no not worth it because you literally invested $2,080 to only receive $1,400 in winnings. THAT IS A NET LOSS!!
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How many weeks in a year = 52
How much spend in 1 year = 52($2) = $104
How much in 20 years = $104(20) = $2080
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Wins = $2000 <— Before TAXES
After Taxes:
X/2000 = 30/100
100x = 60,000
x = 600
So 2000 - 600 = $1400 <— AFTER TAXES