A state lotto has a prize that pays $1,800 each week for 20 years. Find the total value of the prize: $ 1872000 If the state can earn 9% interest on investments, how much money will they need to put into an account now to cover the weekly prize payments? S Reminder: There are 52 weeks in a year.

A state lotto has a prize that pays $1,800 each week for 20 years. Find the total value of the prize: $ 1872000 If the state can earn 9% interest on investments, how much money will they need to put into an account now to cover the weekly prize payments? S Reminder: There are 52 weeks in a year.

Economics Today and Tomorrow, Student Edition

1st Edition

ISBN:9780078747663

Author:McGraw-Hill

Publisher:McGraw-Hill

Chapter6: Saving And Investing

Section6.1: Why Save?

Problem 6R

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