A state lotto has a prize that pays $1,100 each week for 20 years. Find the total value of the prize: $ 1144000 If the state can earn 5% interest on investments, how much money will they need to put into an account now to cover the weekly prize payments? $ Reminder: There are 52 weeks in a year.

Q: You are the finance manager for a particular company. The company plans to purchase $3,000,000 in…

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Q: A state lotto has a prize that pays $600 each week for 40 years.   Find the total value of the…

A: State lotto is a kind of lottery program that engages people into a game of luck and probability…

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A: Price of the assembly (P) = $3000000 duration (n) = 5 years

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A: Given: Monthly allowance = P3,000 Interest rate = 12%

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A: The given answer is correct

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Q: A state lotto has a prize that pays $600 each week for 15 years. Find the total value of the prize:…

A: Total value of the prize = Price each week * Number of weeks * Number of years

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A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: If P8,000 is deposited in the bank each year for 10 years, how much annuity can aperson get annually…

A: Future value = p/r * ((1+r)n - 1) P = 8000 r = 12% N = 10 Future value = 140,389.88

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A:

Q: You are the finance manager for a particular company. The company plans to purchase $2,000,000 in…

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Q: A $500,000 whole life policy is available for $5150 per year, payable at the beginning of the year.…

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Q: how much money will have accumulated at the end of the 10-year period

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Q: Mr. Jimin borrowed money to CBA Bank for $211,000 for business development the chicken farm. The…

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A: This problem belongs to future value of annuity due. since payment is at the start of the month.

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Q: A state lotto has a prize that pays $1,700 each week for 25 years. Find the total value of the…

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Q: The semiannual tuition payment at a major university is expected to be $36,000 for the 4 years…

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Q: You are the finance manager for a particular company. The company plans to purchase $2,000,000 in…

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Q: A $1.2 million state lottery pays $5,000 at the beginning of each month for 20 years. How much money…

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Q: You like to buy lottery tickets every week. The lottery pays an insurancecompany that pays the…

A: Hey, since there are multiple sub-part questions posted, we will answer the first three questions.…