Question: Example 1 1 . 2 D: Lottery Winnings The Set for Life instant scratch n ' win teket offen players a chance to win $

Example

11.2

D: Lottery Winnings

The Set for Life instant scratch

n^{'}

win teket offen players a chance to win $

1, 000

per week for the next

25

ycan starting immediately upon validation. If a winner was to invest all of his money into an account earning

5 %

compounded annually how much moncy would he have at the end of his

25 -

year term? Assume each year has exactly

52

weels.

Step

1 .

The payments start immediately, and the compounding period and payment intervals are different. Therefo this a general annuity due. Calculate its value at the end, which is its future value, or FV DUr

Example 11.2D: Lottery Winnings The Set for Life instant scratch n'

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