Business, 18.10.2019 17:30 martinegp

The gaming commission is introducing a new lottery game called infinite progresso. the winner of the infinite progresso jackpot will receive $1,000 at the end of january, $2,000 at the end of february, $3,000 at the end of march, and so on up to $12,000 at the end of december. at the beginning of the next year, the sequence repeats starting at $1,000 in january and ending at $12,000 in december. this annual sequence of payments repeats indefinitely. if the gaming commission expects to sell a minimum of 1 million tickets, what is the minimum price they can charge for the tickets to break even, assuming the commission earns 6% per year per month on its investments and there is exactly one winning ticket.

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The gaming commission is introducing a new lottery game called infinite progresso. the winner of the...

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