Example: Let’s say the mega millions is 50 million. Whats the dollar difference in annuity and cash. I’m in NJ so I don’t think there is state tax due herefor lootery winnings
Posts Tagged ‘much’
How to create a hedge fund? How much money does a mutual fund managers make?
01
Apr
I would like to know if there are any websites or decent books out there with good information on the creation of a hedge fund? Also, is there money to be made if you run a mutual fund? Like a John Montgamery at Bridgeway or Bill Miller at Legg Mason. If so, how is it calculated? Thanks in advance.
How much child support can I get from the unemployed father of my son?
26
Mar
After 7 months of my sons fathers lack of helping I decided to get the law involved and make him pay child support. The problem is.. He don’t have a job and don’t want a job. He is fine with his mommy paying for everything he needs. I know im entitled to child support but how am I supposed to get anything when he is to lazy to get a job?
Please help me solve this Finance question…your opinions help! Thank you so much?
21
Mar
I know it may be alittle long..but please help me, I really appreciate it! Thanks to all the kind people on Yahoo Answers!
Totals: 1972 Start-up through FY 2000*
Total Lottery Ticket Sales $25.12 billion
Net Revenue to Aid Education $9.83 billion
Retailer Commissions $1.68 billion
Prizes to Players$12.86 billion
*http://www.Michigan.gov/lottery
The Big Game is a multi-state lottery game with BIG Jackpots.Seven states participate in The Big Game: Georgia, Illinois, Maryland, Massachusetts, Michigan, New Jersey and Virginia. By teaming up together, the member lotteries are able to offer players jackpots that start at $5 million. The jackpots grow until someone wins. Jackpots can grow as high as $200 million or more. In fact, The Big Game holds the record for the largest lottery jackpot ever in the United States: $363million! This jackpot rolled 18 times since last being hit! Two winning tickets — one sold in Michigan, and one sold in Illinois — matched all six numbers in this Big Game drawing, each worth an annuitized value of $181.5 million. The winners were Larry and Nancy Ross of Shelby Township, Michigan, and Joe and Sue Kainz of Lake County, Illinois.The Michigan Lottery can pay Big Game jackpot winnings inone of two ways: as an annuity or in one lump-sum/cash-option payment for the present cash value of the jackpot share. When a winnerselects annuity payments, the jackpot is paid out in equal installments over 26 years. When a winner selects the cash option, the Lottery paysthe winner the present cash value of the announced jackpot in onelump-sum payment, which is typically about 50% of the publishedvalue. In effect, the Lottery takes all of the money that would have been invested to fund the 26-year annuity and turns it all over to the winner, retaining absolutely none of the prize. Regardless of which option thewinner selects, the Michigan Lottery is required by law to withholdestimated income taxes for federal (28 percent) and state (4.2 percent), on any prize over $5,000. These amounts are estimates only, and the winner is required to satisfy any further tax liability for the year inwhich the prize award is claimed.
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Q1) Why do most winners select the cash option plan when given a choice?
Q2) If Michigan Lottery would like to give the annuity option an equal chance of being selected, how would it have to structure its payments?
How much money did Captain Wentworth eventually make Jane Austen’s Persuasion?
13
Mar
I’m doing a report for school, and I can not find this detail in the book. I thought it said its somewhere, but maybe I’m wrong. I know Captain Wentworth started out with no fortune, and that is why Anne originally broke off their engagement. However, he did go on to make a large amount of money in the Navy. I thought the book mentioned it somewhere, but I’m having a hard time finding it there or on the net. Does anyone know the amount?
How much money must be deposited now, at 6% interest, compounded semiannually, to yield an annuity payment of?
12
Mar
How much money must be deposited now, at 6% interest, compounded semiannually, to yield an annuity payment of $4,000 at the end of each six- month period, for a total of five years?