The "For Love or Money" thread (1 Viewer)

[Chris Lockwood]

> You can take a lump sum present value of the $1 million prize.

Which obviously is way less than a million. Did the show even offer the option?

If I did the formula right in Excel, it's worth about $429k with a rate of 5%. I have no idea what rate they'd actually use. The higher the rate, the less the lump sum.


Is the word shit supposed to be politer with an e on the end?

 

[Patrick Sun]

It's in the small print at the end of the show (the cash-out option), but again, it's all dependent on the interest rate. It's sort of like the same "all cash" option when you win a lottery in some states (or power-ball states).

 

[Chris Lockwood]

Yeah, but when the Lotto jackpot is $50 million, the state doesn't write a $50 million check with your name on it, show you that when you buy your ticket, & imply they'll give you that check if you have the winning numbers. They make it clear that it's paid over a number of years (less than 40).

 

[Patrick Sun]

But the jackpot is given as the amount annualized over X number of years to generate ticket buying interest on a local level. Sure, it's semantics on NBC's part, but that's probably the only way they could play with the numbers to get the show on the air.

 

[BillyH]

Yea, in Wisconsin if you win the Powerball(Yea, right, like it could really happen to me!) and want a cash payout right now it works out to something like a tad more then half and then comes the taxes. Roughly 1/3 the face value of the lotto total is a close approximation. So after I win the 240 Million tonight, I expect about 80 Million in my checking account after the greedy civil servants get ahold of it. Just the same, I suppose I'll just have to manage on that. Since I am quite sure that my One dollar investment will be the winner, any suggestions out there on how to spend some of the winnings on AV? I personally think a Mark Levinson Number 30 possessor, 6 Krell Monoblocks, and a Martin Logan Prodigy system(All around except a theater center) might be a good start.

 

[Rob Willey]

Is the word shit supposed to be politer with an e on the end?

Everything sounds more polite when you say it the British way.

Rob