1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Rudik [331]
2 years ago
5

The gaming commission is introducing a new lottery game called Infinite Progresso. The winner of the Infinite Progresso jackpot

will receive $1,000 at the end of January, $1,900 at the end of February, $2,800 at the end of March, and so on up to $10,900 at the end of December. At the beginning of the next year, the sequence repeats starting at $1,000 in January and ending at $10,900 in December. This annual sequence of payments repeats indefinitely. If the gaming commission expects to sell a minimum of 800,000 tickets, what is the minimum price they can charge for the tickets to break even, assuming the commission earns 12.00 %/year/month on its investments and there is exactly one winning ticket
Business
1 answer:
ExtremeBDS [4]2 years ago
4 0

Answer:

$0.73

Explanation:

Interest = 12%  = 1% per month

The sequence of monthly payment for indefinite years

$1000, $1900, $28000......... $10900

This means that the monthly payment increases by $900

The equivalent monthly payment can be calculated as

= 1000 + 900 ( A/G , 1% , 12 )

= 1000 + 900 * 5.3814

= 1000 + 4843.26

= $5843.26

present worth of withdrawal = 5843.26 / 1% = $584326

<u>The minimum price that the company will have to sell its ticket to breakeven </u>

= 584326 / 800000

= $0.73

You might be interested in
what will most likely still occur when the economy has achieved full employment? a.frictional, seasonal, and cyclical unemployme
topjm [15]
The right answer for the question that is being asked and shown above is that: "<span>c.Frictional, seasonal, and structural unemployment " </span>most likely still occur when the economy has achieved full employment is that <span>c.Frictional, seasonal, and structural unemployment </span>
5 0
3 years ago
Remodeling is an<br> A. neither. B. Asset. C.expense
nikklg [1K]

Answer:

C expense meaning cost money

5 0
2 years ago
Read 2 more answers
Producer surplus equals a. Value to buyers - Costs of sellers. b. Amount received by sellers - Costs of sellers. c. Value to buy
aev [14]

Answer:

Amount received by sellers - Costs of sellers. 

Explanation:

Producer surplus is the difference between the price of a good and the cost to sellers. It is the difference between price and the least amount sellers would be willing to sell their products.

Consumer surplus is the difference between the price at which the consumer values the good and the price of the good.

Consumer surplus = Value to buyers - Amount paid by buyers.

I hope my answer helps you

5 0
3 years ago
Xavier and Shawn are co-owners of a party-planning business. They split all of the profits 50-50 and are able to make decisions
pshichka [43]

In this instance, Xavier and Shawn are general partners. In this arrangement, all partners are equally responsible for the business, meaning they are both liable for any financial loss. LLC would protect their personal assets from this type of claim. Obviously, this isn't a sole proprietorship because there is more than one owner.

5 0
3 years ago
Read 2 more answers
A market research firm is studying the effects of price and type of packaging on sales of a particular product. Twenty-seven sto
Readme [11.4K]

d. A randomized block design use packaging as a block. Randomly assign the nine combinations of three price levels and three packaging types, using combination

By utilising a randomised block design, market research can improve the accuracy of the study's findings. RBD The market research firm should conduct the study using the following design:

In a randomised block design, or RBD, experimental units are divided into equal-sized groups or blocks, and each group is then assigned a treatment at random. The information is shielded from outside influences in this way.

In essence, an RBD is a method for organising every possible combination of variables in order to minimise outside errors. Think of the RBD as a building with floors and apartments, with each combination of elements representing a floor.

Learn more about randomized block here:

brainly.com/question/14499443

#SPJ4

8 0
1 year ago
Other questions:
  • You are giving a tour of businesses to several classical musicians from China. One of the Chinese in the tour group has asked yo
    6·1 answer
  • Frank is an employee of Guitar Makers, LLC. Guitar's employee manual states that workers, such as Frank, will be dismissed only
    10·1 answer
  • What is the name of the food production strategy, which is characterized by "slash and burn, swidden agricultural techniques use
    11·1 answer
  • An automobile purchased for use by the manager of a firm at a price of $24,000 is to be depreciated linearly over 5 years.  What
    6·1 answer
  • Marketing in foreign markets can require altering the goods or services offered to meet the taste of local customers. therefore,
    6·1 answer
  • Henkes Corporation bases its predetermined overhead rate on the estimated labor-hours for the upcoming year. At the beginning of
    9·1 answer
  • 18. The creation of a quota on Canadian softwood lumber sold in the U.S. may affect prices and quantities of Canadian softwood l
    10·1 answer
  • Strategic management
    5·1 answer
  • What is the gross income for a real estate agent in 2021?
    13·1 answer
  • Only answer if you're willing to assist. I have a project for Entrepreneurship, in which I need to make a powerpoint for a new k
    12·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!