Answered

Westonci.ca offers fast, accurate answers to your questions. Join our community and get the insights you need now. Discover reliable solutions to your questions from a wide network of experts on our comprehensive Q&A platform. Discover in-depth answers to your questions from a wide network of professionals on our user-friendly Q&A platform.

Melissa has bought a $2 lottery ticket every week for the past 20 years. This week, she won for the first time $2,000, before 30% taxes that are taken out. Compare these winnings to her total investment, and explain if it was a worthwhile investment for her?

Sagot :

HK0629
No it is no not worth it because you literally invested $2,080 to only receive $1,400 in winnings. THAT IS A NET LOSS!!
—————————————————————-
How many weeks in a year = 52
How much spend in 1 year = 52($2) = $104
How much in 20 years = $104(20) = $2080
—————————————————————-
Wins = $2000 <— Before TAXES
After Taxes:
X/2000 = 30/100
100x = 60,000
x = 600
So 2000 - 600 = $1400 <— AFTER TAXES
We hope you found what you were looking for. Feel free to revisit us for more answers and updated information. We appreciate your time. Please come back anytime for the latest information and answers to your questions. Your questions are important to us at Westonci.ca. Visit again for expert answers and reliable information.