SOLUTION: You are currently 24 years old and you have just won the lottery! Your payout after taxes is a lump sum of 148 million dollars. If you anticipate living to be exactly 88 years old

Algebra.Com
Question 1154571: You are currently 24 years old and you have just won the lottery! Your payout after taxes is a lump sum of
148 million dollars. If you anticipate living to be exactly 88 years old, how much will you have to spend, per
day, to be left with no money when you die? Use 365 days = 1 year.

Answer by josmiceli(19441)   (Show Source): You can put this solution on YOUR website!
years


You must spend $6,335.62 / day
----------------------------------------
check the math

RELATED QUESTIONS

20.You have won $386 million in the Mega lottery, to be paid out in 20 equal yearly... (answered by lynnlo)
You have just won the lottery and burying most of your lump sum in your back yard. The... (answered by JulietG)
You have just won a lottery! You will receive $50,000 a year beginning one year from now... (answered by )
A PERSON WINS A $60 MILLLION LOTTERY, THEY RECEIVE $1 MILLION FOR THE NEXT 50 YEARS PLUS... (answered by Theo)
You borrowed $27000 for 5 years. You promised to pay back the principal and the interest (answered by akmb1215)
Marissa has just won the Cash for Life lottery. She must decide between two prize... (answered by Theo)
You enter into a contract that requires you to pay $100 000 at the end of every four... (answered by Theo)
you just won $400,000 in the lottery. After careful consideration, you... (answered by advanced_Learner,MathTherapy)
you just won $400,000 in the lottery. After careful consideration, you decide (answered by advanced_Learner)