Congratulations!
Imagine you have won first prize in a competition!
There are four different prizes to choose from. Use your computer to help you decide which is the best!
| Prize A | Prize B | |
| £1,000 in the first year, £2,000 in the second year, £3,000 in the third year, £4,000 in the fourth year, £5,000 in the fifth year and so on for 25 years. | 1p in the first year, 2p in the second year, 4p in the third year, 8p in the fourth year, 16p in the fifth year and so on for 25 years. | |
| Prize C | Prize D | |
| £10,000 each year for 25 years. | £250 in the first year then plus 25% each year. |
Tasks:
- Which prize do you think will pay the most after 25 years?
- Use a Spreadsheet to calculate the amount you will receive each year for each prize. [You will need to use formulas!]
- Which prize pays the most after 25 years?
- If each prize only lasted 10 years - which would be the best?
Ingredients:
- Example Layout
- Excel
Assessment:
- Multiple choice test
10 Questions :: <15 Mins
Time:
- 1 Lesson