- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
Finance calculator guru types, help with a word problem
Posted on 10/8/12 at 3:31 pm
Posted on 10/8/12 at 3:31 pm
quote:
Willie McPherson, 74, and Christopher Manzi, 44, started buying Powerball and Mega Millions tickets together in 1987. After a quarter century of trying, they finally hit it big, but it was not with the tickets they had purchased. While McPherson and Manzi did not win money with the tickets, they did receive two $1 Quick Pick tickets as part of a promotion. One of the Quick Pick tickets turned out to be a winner -- a $14 million Mega Millions winner.
quote:
After taxes, Manzi will receive $3.5 million and McPherson will receive $3.3 million, because New York's taxes are higher than New Jersey's.
quote:
Christopher Manzi and Willie McPherson pooled $40 every week since 1987
how much would $40/week be now with compounding? assume it was invested in a hi-growth mutual fund annuity type instrument.
just wondering
ETA: article
This post was edited on 10/8/12 at 3:33 pm
1
Posted on 10/8/12 at 3:43 pm to Jahel
Back of the envelope guess, between 115-130k.
Posted on 10/8/12 at 4:25 pm to Waffle House
At 4% annual interest/inflation - 89,000
At 6% - 120,000
At 10% - 232,000
It depends on what your bar is.
At 6% - 120,000
At 10% - 232,000
It depends on what your bar is.
Posted on 10/8/12 at 6:43 pm to TheHiddenFlask
thought it would be more
thanks for the help
dope heads would have a ton of cash though
thanks for the help
dope heads would have a ton of cash though
Posted on 10/8/12 at 7:27 pm to Jahel
I think the lesson here is that it's always "worth it" for the winner, but never for the millions of people who lose.
Posted on 10/8/12 at 7:52 pm to ZereauxSum
I think the lesson here is ...
... back in 1987 a 49 year old man was buying lottery tickets with a 19 year old.
But I will admit they're still together after 25 years, that's more than most.
quote:
Willie McPherson, 74, and Christopher Manzi, 44, started buying Powerball and Mega Millions tickets together in 1987.
... back in 1987 a 49 year old man was buying lottery tickets with a 19 year old.
But I will admit they're still together after 25 years, that's more than most.
Page 1 of 1
Popular
Back to top
Follow TigerDroppings for LSU Football News