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What is Lottery Prize Conversion Case Study about?

Rosalind Setchfield won $1.3 million in a lottery in 1987 to be paid out over 20 years. In 1995, Singer Asset Finance Company offered her $140,000 immediately for half of her remaining lottery payments over the next 9 years, worth $293,745.51. Singer brokers such deals, then sells the rights to future payments to institutional investors. In this case, Singer sold the rights to Enhance Financial for $196,000, making a $56,000 profit. Singer was able to structure a profitable deal because individuals, like Se

Author

Ramya Raghavan

Language

EN