A state lotto has a prize that pays $800 each week for 15 years. Find the total value of the prize: $ If the state can earn 6% interest on investments, how much money will they need to put into an account now to cover the weekly prize payments

A state lotto has a prize that pays $800 each week for 15 years. Find the total value of the prize: $ If the state can earn 6% interest on investments, how much money will they need to put into an account now to cover the weekly prize payments

Intermediate Algebra

19th Edition

ISBN:9780998625720

Author:Lynn Marecek

Publisher:Lynn Marecek

Chapter2: Solving Linear Equations

Section2.2: Use A Problem Solving Strategy

Problem 2.49TI: Nathaly deposited $12,500 in her bank account where it will earn 4% simple interest. How much...

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Question

100%

A state lotto has a prize that pays $800 each week for 15 years.

Find the total value of the prize: $

If the state can earn 6% interest on investments, how much money will they need to put into an account now to cover the weekly prize payments

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