NBC promotes their generosity by awarding $1m prize to winners, but the 42-year old winner would be 82 years old before he actually receives the full amount in the year 2047 for his win in 2007. And how much would $25,000/yr. be worth in 2047 dollars? Imagine winning the $10,000 Pyramid in 1973, and they paid it off over 40 years in increments of $250/yr. You'd finally be getting your last check for $250 in six years -- in the year 2013! How much more could you have done with that $250 cash back in '73 compared to today in 2007 or in 2013?
http://www.realitytvworld.com/news/terry-fator-crowned-america-got-talent-second-season-winner-5668.phpAs America's Got Talent 2's winner, Fator ... received a $1,000,000 prize and the show's "Best New Act In America" title. However unfortunately for Fator, unlike the winners of most other reality shows, he won't actually be receiving his full cash prize anytime soon.
Instead, similar to what NBC (which appears to have established a lock on the "America's Cheapest Reality TV Broadcast Network" title) did with For Love Or Money's $1,000,000 prize and Treasure Hunters' $3,000,000 prize, Fator's $1,000,000 prize will be paid over via a lottery prize-like 40-year period. Fator can (and probably will) opt to pass on the $25,000 annual payments and instead receive a lump sum, however should he do so, the present cash value of the prize will be no more than several hundred thousand dollars.
After revealing Fator's victory, Springer also revealed that Fator would also be receiving one more "surprise" prize. "We've got one more surprise for you," Springer told Fator. "We know your dream is to play Las Vegas, (so) we're going to make that dream come true. You're going to be playing the Jubilee Theater at Bally's Resort." Springer didn't reveal whether, based on NBC's "fine print" prize practices, Fator might actually have to pay for the privilege.