Johnny Won the State Lottery

question 74

Multiple Choice

Johnny won the state lottery.What formula would he use to find the future value of his winnings?

• A)P=S / (1 +/ r)ⁿ
• B)S=P × (1+r)ⁿ
• C)F=S × (2-r)
• D)P=N × (S-ar³)²
• E)r=(P × r +S)ⁿ

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Definitions:

Discretionary Income

The amount of an individual's income that is left for spending, investing, or saving after taxes and personal necessities are paid.

Discretionary

Refers to funds or expenses that are non-essential and can be adjusted or eliminated depending on the financial situation.

Healthcare

Refers to the organized provision of medical care to individuals or a community through services offered by medical professionals.

Disposable Income

The amount of money individuals or households have to spend or save after income taxes have been deducted.