Margaret Pittman

Mathematics

19 July, 19:10

Suppose you purchase a raffle ticket for $1.00. First prize is $5,000, second prize is $1,000, and third prize is $500. If 500 tickets are sold, what should you expect to win or lose? Round the answer to the nearest cent.

$0.99 loss

$13.00 loss

$10.00 gain

$12.00 gain

+3

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