In: Business and Management

Words 278
Pages 2
Lottery payment streams originate when people select an annuity payout from their lottery winnings as opposed to the lump sum. This selection is usually made when the lottery ticket is purchased.

Let’s presume someone won $1 million. They elected an annuity payout over 20 years, and at interest rates available today, this is a little over $60,000 per year in 20 annual payments.

The lottery commission uses the $1 million it collected from ticket sales, and invests it in zero coupon Treasuries that mature every year for the next 20 years. When the Treasuries mature, they take the proceeds from the zero coupon bond and pay it to the lottery winner.

The yield on this sort of security is very low, approximately 2%. Thus, the winners discount rate, or effective rate of return, is only about 2%. They effectively delegate their $1 million prize to the Lottery Commission who invests in Treasuries.

Now let’s presume the winner decided to sell the future payments for cash today. They decide sell $50,000 per year for 20 years. At a 6% discount rate, they would receive just under $600,000.

You may decide to buy this payment stream at a 5% discount rate. You would pay approximately $625,000. In exchange, you would receive a total of $1M, in 20 equal annual installments of $50,000. The seller would also receive that portion of his or her payment that they decided not to sell.

Just like with regular Structured Settlement Annuities, the case goes to a court with jurisdiction that allows the seller to sell its payments, and gives you an unequivocal legal right to the payment…...

Similar Documents

The Lottery

...2012 “The Lottery” The ending of “The Lottery” by Shirley Jackson is a surprise. However, there are numerous hints and clues that foreshadow what is to come. The lottery is conducted by Mr. Summers. Mr. Summers, the lottery official, arrives in the town square where all the villagers have gathered. He carries with him the first of the major symbols Jackson employs in her story, a lottery box. The reader does not know until the very end of the story that the lottery is about death and sacrifice, but the box itself reveals hints of its true purpose. The box is black, old, and decaying , “The black box grew shabbier each year: by now it was no longer completely black but splintered badly along one side to show the original wood color, and in some places faded or stained ( 137; par 5) . In many cultures, black is often associated with death. When Mr. Summers calls her family's name to draw a lottery ticket, Tessie Hutchinson tells her husband, "Get up there Bill" (139; par. 29). However, when Bill draws a black-dotted Lottery ticket, Tessie puts up quite a protest, saying "It wasn't fair" (140; par. 51). She claims her husband was rushed and did not have time to pull the ticket he really wanted. Later, when Tessie pulls the ticket with a black dot during the Hutchinson family drawing, she continues ranting with similar protests. At this point, winning the lottery doesn’t seem to be a good thing. Another hint to this not being a happy occasion, is the lottery......

Words: 544 - Pages: 3

The Lottery

...PAPER INTERDICIPLINARY LITERATURE “THE LOTTERY” [pic] Compiled by : Nida Agniya Septiara (F1F010038) Laeli Fadilah (F1F010052) Lisa Ayu Christiana Putri (F1F010022) Yunita Marangin Lumbantoruan (F1F010084) JENDERAL SOEDIRMAN UNIVERSITY SOCIAL AND POLITICAL SCIENCE FACULTY HUMANITIES DEPARTMENT ENGLISH LITERATURE 2013 INTRODUCTION In this paper, we would like to highlight in the point of view of woman. We think it is interesting enough to be discussed. Shirley Jackson seems want to deliver a message related with woman position in the society in the period of the making of the novel. We see that the male character on this story mostly has good position and description while the female character only became a minor character which didn’t have any significant position in the novel. Eventhough the major character, Tessie Hutchinson, is a woman but she got ironic destiny in the end of the story. Many sentences and phrases are quoted through the article to illustrate the women's weakness and the men's power, the notion usually called “men’s control of the dominant discourse” in Beauvoir's words. There are some keys in the story showing that women are not satisfied with their ways of lives and try to change their current situation. 1. Woman’s order is less considered than man’s order ...

Words: 1124 - Pages: 5

The Lottery

...The lottery 1) Look up the history of lotteries. Why did they originate and why? Lotteries are a popular type of gambling most often run by governments and local states. The lottery includes multiple participants who compete and the winning person receives money as a prize most of the time. The chances of winning are very small and the winnings can be very high, about few millions. Throughout much of the recorded history, the purpose of lotteries was to raise money for funding public works. The lottery games started about 205 to 187 B.C. during the Han Dynasty, which is China today. The reason why the lottery started was to finance government projects, including one of the most famous - the Great Wall of China. Today, in the 21st century, hundreds of years latter the lottery has not changed much. It is still a gambling game, which people choose to play, hoping to win a prize, and the money is still use for government projects. 2) What good questions can you ask as you read the story that will help you understand the story on a deeper level? • Why does the writer mention the pile of stones and how are they connected to the rest of the story? • What is the reason the writer mentions that Mr. Summers had no children and that wife is scold? And why does she mention it with his job? • What was the reason of the hesitation among the villagers when Mr. Summers asked for some help? • Why do the villagers not want to replace the old lottery box with a new......

Words: 3080 - Pages: 13

The Lottery

...Symbolism Essay “The Lottery” Especially Tessie, Warner, Bill, Graves and Summer. What They Do Synbolize? Shirley Jackson’s “The Lottery”, raises many questions in the back of a reader’s mind towards the destructive yet blind rituals of mankind. “The Lottery’ clearly expresses Jackson’s feelings concerning mankind’s evil nature hiding behind traditions and rituals. She shows how coldness and lack of passion in people can exhibit in situations regarding tradition and values. Jackson represents the theme of the short story with the use of the symbolism and setting. The story begins with a description of a seemingly cheerful environment. Jackson creates a comfortable atmosphere by describing the activities of the residents of the town. She describes children breaking into the “boisterous play and their talk still of the classroom’. Men and women are gathered in the center of the town talking about farming and taxes or into gossip. Symbolism in the story also supports the theme of” The Lottery”. The very names of the characters in the story are laden with meaning. The name of Summers, Graves, Warner, Tessie and bill hint at the true nature of the characters. Summers’ name symbolizes life but in reality it is he who is in charge of the lottery which instead of giving life to its winner it gives death. Graves is the man who carries in the black box and the three-legged stool. His name hints to what will happen to Tessie Hutchinson...

Words: 525 - Pages: 3

The Lottery

...Fisher 1 Stacey Fisher Professor Bailey English 1302 10 FEB 2014 “The Lottery” Shirley Jackson's “The Lottery” is a compelling story about rituals, symbolism, scapegoats, and the use of unnecessary violence to portray the cruelty of human nature. The story takes place on a warm June 27th day at 10am, the weather is clear and sunny. The townspeople of a small village of more than 300 gather for a yearly ritual, the lottery. The townspeople talk and joke as the children run and play. A black box is introduced and the people start the process of choosing the scapegoat this year, the one to be stoned to death. The turn of events in this story just goes to show you the rituals, symbolism, and the unnecessary violence in human society. Every year the lottery serves as a ritual and the black box is introduced. The black box symbolizes death to one of the villagers who will be the scapegoat for all. Mr. Summers, the lottery official follows some of these rituals by asking questions they all know the answers to. He did so, in my opinion, to keep it official and fair or uniform to all. Another ritual Mr. Summers and Mr. Graves performed was to fill the box the night before with the slips of paper to be used the next morning. They performed this year after year. The ritual itself involved the heads of the households to draw from the box and the one who drew the black dot would return his dot to the black box. They would count his family members and that......

Words: 691 - Pages: 3

The Lottery

...The Lottery 1. Do you think the characters in ‘The Lottery’ are hypocritical in their relationships with other people in town? Explain. Hypocrisy, which means a sudden shift in opinions or loyalties, happens to be an inborn human trait for most people. ‘The Lottery’ by Shirley Jackson happens to be so eerily similar to our current situations which make her story relatable and a classic. Jackson starts off the story with a sort of tranquility and normalness with the existence of a friendly town with neighbourly townsmen on a summer’s day which surprisingly takes a turn for the worse in the last few paragraphs, taking readers by surprise when the backstabbing happens. ‘The Lottery’ portrays the darkest sides of human traits, one of which is hypocrisy. The hypocrisy is demonstrated in a few instances within the story. The townspeople had mixed opinions about the lottery, fearing it but enjoying it when the stoning even happens. They stood away from the pile of stones collected and kept their distance from the black box, displaying their fear of the lottery. When they found that it was not them who was going to get stoned, they eagerly participated in the stoning of Tessie which is shown in the phrase ‘and then they were upon her’. One of the villagers even gave some stones to Tessie’s youngest son to throw them at his mother. Mr. and Mrs. Adams talk of stopping the lottery, yet when the time comes to stone someone, Mr. Adams was seen leading the pack. Tessie was......

Words: 773 - Pages: 4

The Lottery

...Andrea Rhodes “The Lottery” by Shirley Jackson “The Lottery” by Shirley Jackson can be described as an interesting and eerie take on urban communities and the complex social lives of people today. Jackson begins by describing this seemingly normal town gathering, where children are playing, adults are conversing, and a winner for a lottery pick is about to happen. It turns out the winner of the lottery is stoned to death by the townspeople they know so well. There are many themes surrounding this story. It begins with the town boys gathering stones and picking the smoothest ones to put them in piles or their pockets. On the other hand, the little girls are standing aside gossiping or clinging to an older sibling. The author portrays a familiarly known social distinction between the two sexes, with boys being more aggressive and girls being fairly tame and vulnerable. Another theme is the naivety of children, which causes them to follow what their parents and society, want them to do, without even thinking about the consequences. This is shown mostly when Tessie Hutchinson’s name is picked, but both her children cheered because they did not “win”. They did not even care their mother was going to be die. It seems this story is a lesson. Members of society should not take part in unruly actions just because that is the social norm. People tend to follow traditions without even thinking if it is for the best. For example, in the story Mr. Adams brings up the fact that......

Words: 580 - Pages: 3

The Lottery

...The Lottery Topic of Society and Class On a basic level, "The Lottery" asks us to think about the rituals and traditions we unthinkingly follow as members of our society. Beyond critiquing the ways in which custom obscures right and wrong, the lottery also becomes a way of analyzing "traditional" social and gender divisions: the random distribution of paper means some families are fortunate and others aren't. We think it's significant that it's paper that has come to replace wood chips – much as paper money has taken the place of gold or goods for barter. The paper, either in the lottery or in your wallet, is symbolic of exchange value; as we get more "civilized," we lose track of what this paper really means. In the case of both the lottery and cash, paper can mean fortune, either good or bad – and it's disturbing how much life (and wealth) can be left up to the gambles of chance. Questions About Society and Class – Please answer the following questions and be prepared to present your ideas to the class. 1. How would you characterize the village's society? Happy? Affluent? Patriarchal? How does it compare to your own village/town/city? 2. What kinds of values do the townspeople seem to hold about the social roles of men and women? Do these roles have any connection to the lottery? 3. What's up with the children of the village – specifically the boys – being the first to stockpile stones? What, if anything, is Jackson trying to suggest about children? 4....

Words: 1107 - Pages: 5

The Lottery

...Oppression After reading Shirley Jackson's "The Lottery" and Emily Dickinson's "My Life Had Stood, a Loaded Gun," one major theme stands out. In my opinion, both show structures of control and oppression. Control is the influence of others' behavior and oppression is unjust treatment. Both literary works are an accurate display of both control and oppression. "The Lottery" shows control through its leadership and tradition. "My Life Had Stood, A Loaded Gun" shows control and oppression through the fusing of identities and death. Both passages also share many similarities. Some of the similarities include the relationship between the ruler, the titles of the controllers, and the use of violence to portray their messages. Jackson's "The Lottery" shows control through the village's leaders and headship. "Mr. Graves, Mr. Summers, and Mr. Martin are characters Jackson has chosen to represent the power and authority within the community. Peter Kosenko (1985) suggests that the village exhibits the same socio-economic stratification that most people take for granted in a modern capitalist society" (Shields 415). The lottery is an annual event in the village. It is usually a two day process, but since this village is so small it can be completed within two hours. A representative from each family, typically the head of the household, draws a slip of paper from the old black box. It is mandatory for each family to participate in the lottery even though they are all terrified of......

Words: 1798 - Pages: 8

The Lottery

...d, y" February 2, 2015 Young Goodman Brown & The Lottery A review of both stories In this essay I will take the time to review two stories both of the fiction nature. I will discuss the conflicts of both stories as well as the plot structure. I will talk about the characters and give my point of view. Both stories are very thought provoking which should make this very interesting to compare and contrast. In the story of “Young Goodman Brown” we can understand the setting from what the limited omniscient narrator is describing to us. The reader gets a visual of a spooky setting of dark woods in the nearby town of Salem. The first thing a reader would think of when they hear the word/place “Salem” is witches. So automatically becomes a Halloween type of feel. It is then discussed that the story takes place during the time of the witch trials. It is not spoken as to what season this takes place, but with the visual you get the reader can assume its fall. The forest, the time of the story and the location of Salem helps to make this story very believable. In “The Lottery,” we getting a different visual. As the reader the image you create of the setting describes is a small village in a small town in a very rural areal. The feeling you get from the setting described is a feeling of everything revolving around the good harvest of their crops. The author paints a setting of a town of people doing a lottery that you feel in the beginning may be an exciting time......

Words: 964 - Pages: 4

The Lottery

...The Lottery The Lottery by Shirley Jackson, is a short story about an annual lottery draw in a small town. The story sets place in a small town in New England. Every year a lottery is held, in which one person is to be randomly chosen to be stoned to death by the people in the village. The lottery has been practiced for seventy-seven years by the townspeople. By using symbolism, Shirley uses names, objects, and the setting to conceal the true meaning and intention of the lottery. The names of each character in this story hold significant meaning to the lottery. The name "Delacroix" is an example. In" The Lottery," Shirley explains "the villagers pronounced this name 'Dellacroy'." According to Nathan Cervo "[I]n French, 'Delacroix' means "of the Cross'" (Cervo). Incorrect pronouncing this word provoked the Christian symbol of martyrdom. Another the exam is the name "Summer." summer is, as Amy A Griffin describes, "a time usually associated with cheerfulness" (Griffin). In "The Lottery" Summer is the name of a businessman who is responsible for conducting the Lottery. Ironically, Mr. Summer is assisted by Mr. Graves--the word "grave" usually represents for death. By naming the conductor of the Lottery Summer and Grave, respectively, the author implies that there will be an unfortunate event during the summer. Altogether, the symbolic names above play a role as a forewarning note of an unfortunate outcome of "The Lottery." As well as the character's names, each object in...

Words: 871 - Pages: 4


...Essay topic: Should I play lottery and why, why not! A lottery is a process whose outcome is dependent on chance such that the lottery player has no certainty on the outcome. It is probabilistic in nature and is dependent on the number of players, the more the players, the risker the lottery hence the lower the chances of winning. Consider a lottery where in one case the participants are One hundred and in the other are a thousand; the probabilities would be a hundredth and a thousandth respectively meaning the chances of winning the earlier case is higher than the later. Playing a lottery would be a good investment idea whose favorable success implies a sudden glory to wealth acquisition based on the amount of lottery bid. To play a lottery one has to be a risk taker since in itself lottery involves a higher risk and as an investor, the higher the risk the higher the returns. In essence therefore the lottery player has to factor in a lot of risk since the whole idea is a gamble. Before playing lottery, one has to ask several questions for instance; whether it is a good idea to get in to the game or not? With the money factor in mind the other question would be; would I get more or less money in the lottery? Such questions inform the action one would take. Economics reasoning rule dictates that a player would have to continue playing until you get all the money. This is a notion in itself is not sufficient since by probability and the theory of chance one will never......

Words: 831 - Pages: 4

The Lottery

...Susan Opino ENG 201-0905 02/27/2016 Paper 1: The Lottery 998 words Whenever we hear about a lottery, the word invokes quite naturally, a sense of hope-the expectations of winning something. Shirley Jackson’s “The Lottery” further confirms the sense of hope in the first few paragraphs. It’s a beautiful summer day, the grass is green, flowers are blooming, kids are playing. But in the ensuing paragraphs, we start to see that something is not quite right in this environment of hope. It is the following of an annual ritual. This is the 77th celebration, which means that they are archaic in some way and rooted in traditions of superstitions that seem to involve crops and human sacrifice. The thoughtless following of rituals in “The Lottery”, is appalling, but not as much as the mindless rituals observed by the modern society. Shirley Jackson’s story, “The Lottery”, is set in a small New England town. The inhabitants are gathered in the the small town square. Its June 27th, on a beautiful summer day. They are in a convivial mood for a yearly ritual, “The Lottery”. Mr. Summers, who seem to be in charge of the the assembly brings forth a black box with hundreds of slips of paper inside. Names of all family members in the town are collected. Bill Hutchinson draws a slip of paper with a dark spot meaning that his family has been chosen. The drawing continues in the second round for each individual family member to draw; regardless of age. After the drawing is over, Tessie......

Words: 1009 - Pages: 5


... AN IB MATH SL INTERNAL ASSESSMENT ABOUT THE PROBABILITY AND LOTTERIES Student’s name Course Institution Date Application of Birthday Paradox With regards to the investigation of the application of birthday paradox, it becomes vital to follow some basic rules that relates with lottery1. In this case, consider the situation of a ticket SuperCash. In this case, make a choice of six various numbers that have a range from 1 to 39 with the objective of marking them on the panels. In this regard, it is possible to calculate the odds for winning the jackpot of a value of $350,000 through the use of the combinatorics simply because the order of the numbers does not have an effect on the outcomes. Following the basic equation of combinatorics; ∅k=∅!k!∅-k! Where ∅ = refers to the number of numbers to choose from; k = number of numbers that are chosen. 39!6!39-6!= 39!6!33!= 3262623 sets of numbers In consequence, the odd that leads to the winning of the lottery are in this case has a value of 1 with respect to the quantity of the set of the possible combinations2. 13262623≅0.00003% 1Huck, Schuyler W. 2012. Reading Statistics And Research. Boston: Pearson.23 2ibd.45 Upon the application of the general formula to the lotteries will require the use of the birthday paradox with the objective of finding the solution of the problem. However, it is worth to first find the manner in which the paradox works altogether. Based on the birthday paradox, with the consideration of a room......

Words: 1652 - Pages: 7


...TENNESSEE EDUCATION LOTTERY             On Nov. 5, 2002 Tennessee voters approved a statewide referendum to permit a lottery. April and May of 2003 The Senate and House passed legislation authorizing the Tennessee Education Lottery Corporation to operate games and generate funds for specific education programs in the state. July 1, 2003 Governor Phil Bredesen appointed a 7-member Board of Directors to govern the Corporation. Sept. 22, 2003 Rebecca Paul (now Rebecca Hargrove) was hired as the Corporation’s first President and CEO.         Jan. 20, 2004 The Tennessee Lottery began selling tickets. First-day ticket sales, which began three weeks earlier than expected, totaled $10.8 million. Tennessee Lottery ticket sales are now more than $7.8 billion. Drawing-style games include Powerball, Mega Millions, Tennessee Cash, Cash 3 and Cash 4. Every non-winning instant ticket is eligible to win prizes through a variety of second-chance drawing programs, including “Play it Again!” designed to reduce litter and give players another chance to win. The TEL has raised more than $2 billion for education programs since inception.        The Tennessee Education Lottery operates entirely from the revenue it generates through the sale of its products. During Academic Year 2009-10, Lottery funds were used to assist approximately 100,000 students at higher education institutions in the state and another 14,500 students in dual enrollment classes. In addition, Lottery funds were used to......

Words: 907 - Pages: 4