Question
In August 2017, Mavis Wanczky won a $758 million Powerball jackpot (sum total of 30 payments)....
In August 2017, Mavis Wanczky won a $758 million Powerball jackpot (sum total of 30 payments). The cash value of the 30 annual payments is 480 million. She purchased 5 tickets for a total investment of $10.00. The odds of picking the correct numbers is 1/292,201,338.
Question 1: Was this a good investment? You answer can only be based on the financial analysis. HINT: Use expected rate of return.
Question 2: Did the additional 4 tickets change her odds of Winning? You must do the math.
Homework Answers
Answer #1
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