ECC Unlucky Lottery Winner Jack Whitaker Article Answers

Business Finance

Participation Exercise #1: After viewing this short youtube (Links to an external site.) video respond to the following question. Why is the interest rate (discount rate) so important when making financial decisions? (A couple of sentences should handle this question).

Participation Exercise #2: After reading the article (Links to an external site.) about “unlucky” lottery winner Jack Whitaker respond to the following questions. Would you have elected to take the $170.5 million “lump sum” payment like Jack or an annuity which paid out the entire $314.9 million in installments (an annuity) over 30 years? Why? Why not? How would have the “time value of money” factored into your decision?

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