You Just Won the Lottery! as Your Prize You Will

question 109

Multiple Choice

You just won the lottery! As your prize you will receive $1,200 a month for 100 months. If you can earn 8% on your money,what is this prize worth to you today?

• A) $87,003.69
• B) $87,380.23
• C) $87,962.77
• D) $88,104.26
• E) $90,723.76

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Definitions:

Trade

Trade involves the exchange of goods and services between people or entities, either within a country or internationally, and is a fundamental aspect of the global economy.

Skateboards

Wheeled boards used for skateboarding, a recreational activity, sport, or mode of transportation.

Producer Surplus

The difference between the amount producers are willing to accept for a good or service and the actual amount received from its sale.

Trade

The act of buying, selling, or exchanging goods and services between people, businesses, or countries.