Powerball Question That Looks At The Growing Annuity Of A Winning Jackpot Boston University Mba Essay

454 words - 2 pages

Ms. Mavis L. Wanczyk is a very lucky person. The odds of winning the powerball jackpots stands at 1 in 88 quadrillion or 1015 (Picchi, 2018). If we assume each ticket is $2, we can make the following ROI calculation: $759,000,000 / ($2 x 1015) = 0.000000008625. This means, for every dollar spent, you would likely see an estimated return of $8.625E-09 before taxes, therefore, my first suggestion is not to play the lottery if you’re trying to be financially savvy.
Yet since she won, we are assuming an ordinary annuity. If we take the winning value of $759 million in 30 annuity payments with a 5% yearly increase, her initial payment on CF0 would be $11,424,039.23. We can see the full breakdown here:
As you can see, the combined state and federal taxes taken out is estimated to be $324,551,358.90 over the span of the annuity, that’s nearly 43%! If she chose the annuity option, she would not receive the full sum until she was 83 years old (currently 53). This would be a major factor in whether she took the lump sum over the annuity.
Now, considering her age and payout of the annuity, I would suggest a low cost high yield bond mutual fund. I found one (which will remain nameless), which currently costs $10 a share, and has an average of $0.035864439 per dollar in dividends payed monthly. If we take the after tax $336 million and invest in this mutual fund with the same 30-year timefra...


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