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Winning one of the big national lotteries provides a choice of how to receive the money....

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Finance

Winning one of the big national lotteries provides achoice of how to receive the money. You can receive a much-reducedlump sum (like half or so) today, or the full amount in twentyannual payments starting today. Discuss?how you can determine whichfinancial deal is better. Also, what are the non-financial aspectsto winning the lottery and how do they influence which option totake?

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3.6 Ratings (667 Votes)
Ans To know which Financial deal is better a very important concept in finance that is known as time value of money can be used to know or determine which financial deal is better whether it is wise to take lump sum money today or to take twenty annual payments starting from today we have to calculate    See Answer
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Winning one of the big national lotteries provides achoice of how to receive the money. You can receive a much-reducedlump sum (like half or so) today, or the full amount in twentyannual payments starting today. Discuss?how you can determine whichfinancial deal is better. Also, what are the non-financial aspectsto winning the lottery and how do they influence which option totake?

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