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  • Yuma Arizona Resident Rosalind Setchfield Won 1 3 Million in An

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    Taimour Hassan
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    Rosalind Setchfield of Yuma, Arizona won $1.3 million in the lottery to be paid out over 20 years. Her husband was injured in an accident, causing medical bills to mount. Six years later, a broker offered her $140,000 for half of her remaining lottery payments over the next 9 years, equaling 48% of what she was owed. She signed the contract, trading long-term smaller payments for a lump sum.

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    Rosalind Setchfield of Yuma, Arizona won $1.3 million in the lottery to be paid out over 20 years. Her husband was injured in an accident, causing medical bills to mount. Six years later, a broker offered her $140,000 for half of her remaining lottery payments over the next 9 years, equaling 48% of what she was owed. She signed the contract, trading long-term smaller payments for a lump sum.

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    75 views1 page

    Yuma Arizona Resident Rosalind Setchfield Won 1 3 Million in An

    Uploaded by

    Taimour Hassan
    Rosalind Setchfield of Yuma, Arizona won $1.3 million in the lottery to be paid out over 20 years. Her husband was injured in an accident, causing medical bills to mount. Six years later, a broker offered her $140,000 for half of her remaining lottery payments over the next 9 years, equaling 48% of what she was owed. She signed the contract, trading long-term smaller payments for a lump sum.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
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    Yuma Arizona resident Rosalind Setchfield won 1 3 million

    in an #4791
    Yuma, Arizona resident Rosalind Setchfield won $1.3 million in an Arizona lottery drawing, to be
    paid in 20 annual installments of $65,277. However, her husband, a construction worker,
    suffered serious injuries when a crane dropped a heavy beam on him. The couple's medical
    expenses and debt mounted. Six years later, in early 1995, a prize broker from Singer Asset
    Finance Co. telephoned Mrs. Setchfield with a promising offer. Singer would immediately give
    her $140,000 for one-half of each of her next nine prize checks (1/2 × 9 × $65,277 = $293.746),
    an amount equal to 48% of the $293,746 she had coming over that period. A big lump sum had
    obvious appeal to Mrs. Setchfield at that time, and she ended up signing a contract with Singer.
    Did she make the right decision? Table ST3.6 gives the details of the two options:Table 3.6
    View Solution:
    Yuma Arizona resident Rosalind Setchfield won 1 3 million in an

    ANSWER
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