Stephanie and Greg were the first and second place winners in a recent

QUESTION

Stephanie and Greg were the first and second place winners in a recent contest sponsored by A Lucky Duck. The first place winner is required to represent the company at numerous events for one year in exchange for receiving a prize of $1,000 a year forever. The second place winner is awarded a prize
This is a deceptive question, but I will give what I feel is thebest answer:After 100 years, both people will have roughly $30 million (Iused http://www.moneychimp.com/calculator/compound_interest_calculator.htm,but you can also do it by PV/FV calculations). That meansthat each year, from then on, you will gain, from interest, atleast $2.4 million. Therefore, is it really

orth the extra$1000 each year for spending that extra time in the beginning no, probably not. You could have made money during that time,invested it, and made much more than $1000 in later years. So the second person is the “winner” Hope taht helps

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