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Shalnov [3]
4 years ago
5

A judge denied a 94-year-old woman s attempt to force a Lottery Commission to pay her $3.9 million winnings up front on the grou

nds that she otherwise won't live long enough to collect it all. The woman already received an immediate payment of $161,454, and she will receive 22 annual gross checks of $169,934. Suppose that she were able to find a buyer who was willing to buy her lottery ticket which means that the buyer would receive 22 annual gross checks of $169,934. If the woman could invest her money from selling the lottery ticket at 5.1% interest, what would be the fair amount to trade her 22 future lottery receipts
Business
1 answer:
VikaD [51]4 years ago
3 0

Answer:

$2,216,588.59

Explanation:

The fair amount to trade her 22 future lottery receipts is the present worth of the future payments discounted using 5.1% discount rate as shown below.

The present value can be computed using the excel present value formula:

=pv(rate,nper,pmt,fv)

rate is the interest /discount rate of 5.1%

nper is the number of times the future payment would be made which is 22

pmt is the amount of each future payment.

fv is the future value worth of the 22 payments which is not known hence taken as zero

=-pv(5.1%,22,169,934,0)=$2,216,588.59  

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Brace Corporation uses direct labor-hours in its predetermined overhead rate. At the beginning of the year, the estimated direct
Levart [38]

Answer:

D. $511,920

Explanation:

For determining the estimated manufaturing overhead first determined the predetermined overhead which is shown below:

= (Actual manufacturing overhead - underapplied overhead) ÷ (actual direct labor hours)

= ($506,920 - $23,440) ÷ (20,400 hours)

= $23.7

Now the estimated manufacturing overhead is

= $23.7 × 21,600 hours

= $511,920

5 0
4 years ago
If automobile producers expect prices of automobiles to increase in the near future, what happens to supply today?
Elanso [62]

Answer:

It will increase

Explanation:

This is due to the "law of supply". It says that whenever the prices increase, the supply will increase, because if the prices are higher, they can win more money as they sell their goods (cars in this case) and this encourages the supply to produce more and place more quantity into the market.

In other words, just follow one of the basic laws in economics, the law of supply, which says "whenever the prices rise, the quantity supplied will also rise, ceteris paribus". By the way, ceteris paribus is latin for "all other things equal" and it means that all other factors remain unchanged (the same).

3 0
3 years ago
A(n) ____ is an object that produces each element of a collection, such as a linked list, one element at a time.
dimaraw [331]

A collection of elements, such as a linked list, is produced one element at a time by an object known as an iterator.

<h3 /><h3>What is an iterator?</h3>

Java's collection framework uses iterators to fetch elements one at a time. It is a universal iterator since any collection object can use it. We can do both read and remove actions with the help of an iterator. It is an enhanced version of enumeration that now can remove an element. Every time we want to enumerate elements in any collection framework defined interfaces, such as Set, List, Queue, Deque, and any implemented classes of Map interface, we must use an iterator. The only cursor offered across the board by the collection framework is the iterator. Calling the iterator() function on the collection interface will provide an iterator object.

To know more about iterator, visit:

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7 0
2 years ago
If you injure yourself bungee jumping and sue the bungee jumping company, what might the bungee company claim in defense?
Digiron [165]
<span>The bungee company can claim you knew the risks of bungee jumping as the jumper signed and complied with all the paperwork and consent forms before performing the jump.</span>
4 0
4 years ago
Calculate the presentvalue of $5,000 received five years from today if your investments pay a. 6 percent compounded annually b.
Goryan [66]

Answer: 3736.30 ,  3402.90 ,  3104.60 , 3069.56 , 3051.35

Explanation: We can compute present values by using the following formula :-

=\:present\:value\:=\frac{future value}{\left ( 1+interest\:rate\right )^{no. of periods}}

=\:present\:value\:=\frac{5000}{\left ( 1+o.o6\right )^{1}} = 3736.30

=\:present\:value\:=\frac{5000}{\left ( 1+o.08\right )^{1}} = 3402.90

=\:present\:value\:=\frac{5000}{\left ( 1+o.1\right )^{1}} = 3104.60

=\:present\:value\:=\frac{5000}{\left ( 1+o.1\right )^{2}} = 3069.56

=\:present\:value\:=\frac{5000}{\left ( 1+o.1\right )^{4}} = 3051.35

7 0
3 years ago
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