Sandra Won $5,000,000 in the State Lottery, Which She Has

question 40

Multiple Choice

Sandra won $5,000,000 in the state lottery, which she has elected to receive at the end of each month over the next 30 years. She will receive 7% interest on unpaid amounts. To determine the amount of her monthly check, she should use a table for the:

• A)Present value of an annuity of 1.
• B)Future value of an annuity due of 1.
• C)Present value of an ordinary annuity of 1.
• D)Future value of an ordinary annuity of 1.

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Definitions:

Entrepreneurship

The activity of setting up a business or businesses, taking on financial risks in the hope of profit.

Hybrid Social Venture

An enterprise that combines aspects of non-profit and for-profit models aiming to address social issues while generating revenue.

Buy One Give One

A business model where a company donates a product for each product purchased by a consumer.

Venture Philanthropy

A type of social impact investment that combines financial investments with philanthropic goals, often providing expertise and networks in addition to capital.