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Florida Professor, Alumnus Offer Insight on How to Spend, Invest, Powerball Winnings

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NBC WPTV 5
Professor Gary Mazza shares Powerball investment strategy with class.

Professor Gary Mazza shares Powerball investment strategy with class.

Alumnus Ryan Moore unveils exotic cars.

Alumnus Ryan Moore unveils exotic cars.

August 16, 2012

As the Florida Powerball jackpot reached over $320 million, NBC television reporter Ashleigh Walters turned to Northwood University to gain insight on what a lucky winner could do with the funds.

Associate math professor Gary Mazza and other staff members shared that while a weekly $80,000 payout for 50-years could provide the opportunity to buy a small island, be one of the first to go to the moon, or own a submarine, the immediate cash payout of over 213 million dollars, invested at four-percent, would earn over 8 million a year in interest without the winner ever having to touch the principle. While offering a variety of scenarios, that amount, Mazza added, would provide one the opportunity to raise 350 needy American children a year at $12,000 each.

After interviewing professor Mazza and students, reporter Ashleigh Walters then visited NU alumnus Ryan Moore who now serves as Brand Manager at the nearby Palm Beach Motor Cars. Moore unveiled his Aston Martin which was featured in several recent James Bond films and then introduced the new Fisker Karma to Walters. "It's an all-electric luxury sedan, that's able to go about fifty miles on a single charge from plugging it in, after which you can go another 240 miles with the assistance of a fuel engine," said Moore, who added that it would set a lottery winner back between $104,850 and $112,000.

"Thanks to professor Mazza, alumnus Ryan Moore and other faculty, staff and students for so quickly sharing their knowledge and expertise," said Suzi McCreery, Director of Public Relations. "We all had fun envisioning the best way to invest such a jackpot," she laughed.

The odds of winning the jackpot, according to the Powerball website, are 1 in 175 million. Since POWERBALL launched in Florida in January 2009, Florida has had the strongest POWERBALL and Power Play sales of any U.S. lottery, exceeding more than $1.4 billion and yielding $557 million in education funding to date. Additionally, the Florida Lottery has had the most winners in the nation, winning more than $570 million in prizes, including four jackpot winners.
To view the story please visit: http://www.wptv.com/dpp/news/math-prof-what-320-million-powerball-can-do#ixzz23iHOFPry