You beat me to it, Mickey!
Let's look at it yet another way. With inflation, tomorrow's dollars are
worth a helluva lot less than today's are. Who wouldn't like to buy a new car,
right now, for the prices charged 25 years ago? Or a tankful of gasoline -
or a gallon of milk? If you took the time payments, every year your prize
check will buy a little less than the previous checks did.
Stating the Megabucks jackpot as $25M when it's really only about $9M is a
travesty of deception. Yes, state lotteries use this despicable trick all the
time and get away with it, too.
- Brian in MI
In a message dated 4/13/2008 6:34:52 P.M. Eastern Daylight Time,
mickeycrimm@yahoo.com writes:
If they can buy an annuity for %4800 to pay you over twenty years
then the true value of the royal is $4800--not $8000. And, remember,
the cost to produce a royal in this spot is about $4900.
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