Lucky Lou Has Just Won the Lottery and Will Receive

question 59

Short Answer

Lucky Lou has just won the lottery and will receive an annual payment of $100000 every year for the next 20 years. If the annual interest rate is 8% what is the present value of the winnings?

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Definitions:

Durkheim

A founding figure in the field of sociology, known for his work on social cohesion, social norms, and the functions of institutions in society.

Social Control Agents

Those who regulate and administer the response to deviance, such as the police or mental health workers.

Elite Crimes

Unlawful activities committed by individuals in high-ranking positions or with significant social, political, or economic power.

Conflict Theory

A theoretical framework in sociology that views society as an arena of inequality generating conflict and social change, focusing on power disparities and competition for scarce resources.