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Message
re: Powerball Word Problem
Posted on 4/8/09 at 5:37 pm to Poodlebrain
Posted on 4/8/09 at 5:37 pm to Poodlebrain
quote:
I believe the operators of Powerball actually purchase annuities for the large prizes. They take advantage of the discounted purchase price and keep the leftover revenue from ticket sales. They don't rely on current sales to pay for past prizes, nor do they rely on future sales to pay for current prizes.
Right, but the annuity has to actually produce those returns? Who knows what they invested in! Stocks, bonds, MBS/ABS/CDO?
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