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

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

Mercury · Answer

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