Mathematics
Mathematics, 30.12.2019 00:31, 310000982

Alottery offers two options for the prize.

option a: $1000 a week for life.
option b: $1 000 000 in one lump sum.

if you choose option b, you have the opportunity to place the winnings into an investment that also makes regular payments, at a rate of 3%/a, compounded weekly. the annuity will pay out a specific amount weekly based on how long you want the annuity to last.

a. which option would the winner choose if you expect to live for another:
i. 20 years?
ii. 50 years?
b. use technology to determine the range of life expectancies when each option is preferred. show your work.

answer
Answers: 1

Other questions on the subject: Mathematics

image
Mathematics, 21.06.2019 17:30, jacamron
Can someone me and do the problem plz so i can understand it more better
Answers: 2
image
Mathematics, 21.06.2019 20:00, soniah
Pepe and leo deposits money into their savings account at the end of the month the table shows the account balances. if there pattern of savings continue and neither earns interest nor withdraw any of the money , how will the balance compare after a very long time ?
Answers: 1
image
Mathematics, 21.06.2019 20:30, daniecott
Precalculus question, image attached.
Answers: 1
image
Mathematics, 22.06.2019 00:10, Ackussinglake63
What is the best estimate of the length of a football
Answers: 1
Do you know the correct answer?
Alottery offers two options for the prize.

option a: $1000 a week for life.
optio...

Questions in other subjects:

Konu
Mathematics, 19.11.2020 19:10