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You've Won The Lottery! Now What?
Source: Council for Economic Education (EconEdLink) | Type: Lesson

Friday the 13th was your lucky day. You won the lottery! The lottery officials have given you a choice. You can either receive the $10 million now in one lump sum, or you can receive $1 million a year for the next 20 years. Now what do you do?

Grades:

• 9-12

Concepts:

• Interest Rate

Standards:

• Economics 10: Role of Economic Institutions
• Economics 12: Role of Interest Rates

Related Resources:

• Making Sen$e with Paul Solman: Is Your Pension Safe? States Struggle With Pricey Challenges
• A Penny Saved
• Principles of Economics

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