The estimated jackpot for tomorrow night’s Mega Millions Lotto is 355 Million Dollars.
26 Annual payments of $13,653,846.
Assume a 40% tax rate, that’s $8,192,308 per year after taxes.
$22,444 per day.
$62 each and every minute.
Our ING savings account gets 4.5% APR. Interest on just the first year’s payout would be $368,653.86
If you invested the entire amount at an APR of 7%, by the time you got the last payout, the compounded total would be $604,977,188.41
So … what would you do with that kind of money?