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

Question

Lucian Schultz

14 January, 07:52

+1

Answers (1)

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Isaac Gaines · Answer 1

Isaac Gaines 14 January, 11:13

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You should expect to gain 12$

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