A person who does not understand probability theory (see
Chapter 0, Problem 46(choose chapter or problem)
A person who does not understand probability theory (see Chapter 11) wastes $10 per week on lottery tickets, averaging $520 per year. Instead of buying tickets, if this person deposits the $520 at the end of each year in an annuity paying 6% compounded annually, a. How much would he or she have after 20 years? b. Find the interest.
Unfortunately, we don't have that question answered yet. But you can get it answered in just 5 hours by Logging in or Becoming a subscriber.
Becoming a subscriber
Or look for another answer