Lottery Annuity Payout Calculator
When you hit the lottery jackpot you have the option to choose the cash value (also known as lump sum) - grabbing a single big prize, or you can go with the annuity option - receiving smaller, continuously incrementing payments throughout the next couple of years. But how do you know how much money you'll get each year?
Using the lottery annuity payout calculator you can see the estimated value of the different payout instalments for each year. The exact amount depends on the rules of the actual game - but most lotteries use a 5% increment and a 30 year period. The sum of the individual payments should equal to the advertised jackpot value.Annuity Calculator
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Annuity Payouts Breakdown:
| Year | Payout | Sum of payouts so far |
|---|---|---|
| 1 | $15,051.44 | $15,051.44 |
| 2 | $15,804.01 | $30,855.44 |
| 3 | $16,594.21 | $47,449.65 |
| 4 | $17,423.92 | $64,873.57 |
| 5 | $18,295.11 | $83,168.68 |
| 6 | $19,209.87 | $102,378.55 |
| 7 | $20,170.36 | $122,548.91 |
| 8 | $21,178.88 | $143,727.79 |
| 9 | $22,237.82 | $165,965.62 |
| 10 | $23,349.72 | $189,315.33 |
| 11 | $24,517.20 | $213,832.53 |
| 12 | $25,743.06 | $239,575.60 |
| 13 | $27,030.21 | $266,605.81 |
| 14 | $28,381.73 | $294,987.54 |
| 15 | $29,800.81 | $324,788.35 |
| 16 | $31,290.85 | $356,079.20 |
| 17 | $32,855.40 | $388,934.60 |
| 18 | $34,498.16 | $423,432.76 |
| 19 | $36,223.07 | $459,655.83 |
| 20 | $38,034.23 | $497,690.06 |
| 21 | $39,935.94 | $537,626.00 |
| 22 | $41,932.74 | $579,558.73 |
| 23 | $44,029.37 | $623,588.11 |
| 24 | $46,230.84 | $669,818.95 |
| 25 | $48,542.38 | $718,361.33 |
| 26 | $50,969.50 | $769,330.83 |
| 27 | $53,517.98 | $822,848.81 |
| 28 | $56,193.88 | $879,042.68 |
| 29 | $59,003.57 | $938,046.25 |
| 30 | $61,953.75 | $1,000,000.00 |
FAQ
Do The Numbers Displayed By The Annuity Calculator Include Taxes?
All figures are before taxes. Federal and state taxes along with possible additional deductions may apply.
How Are Annuity Payout Values Calculated?
The sum of the individual payouts should equal to the total jackpot value. The payouts are incrementing by constant ratio year-by-year. In mathematics this is called a geometric progression. To calculate the first payout you can solve the formula used to calculate the sum of the numbers in a geometric progression. If you have the first element you can easily calculate the rest iteratively.
How Are Powerball Annuity Payouts Calculated?
Powerball jackpot winners will receive 30 payments over 29 years, each payment increasing by 5% - if they choose the annuity options.
How Are Mega Millions Annuity Payouts Calculated?
If you win Mega Millions and opt for the annuity payout option, you'll be guaranteed to receive 30 payments for the next 29 years. Each payment will be 5% larger than the previous one.
How Much Does It Cost to Use the Lottery Annuity Payout Calculator? Is It a Free Tool?
Our lottery annuity payout calculator tool is free to use. There are no hidden fees or charges.
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