 鲜花( 0)  鸡蛋( 0)
|
Congratulations! You have won the Lottery For Life and are the proud winner of $1,000 per week for the rest of your life!! You have the option of accepting a cheque for $1000 per week until you die, or reach the age of 75, whichever comes sooner. Alternatively, you may accept a cash payout of $2 million now.0 n8 ]/ H- [, K$ v+ m) \1 o% ?
a) Calculate the amount of money that the Alberta Lottery Corporation must keep in the bank to be able to pay the weekly prize.2 i i: o* L J% u* n
Assume the following:
0 F$ y6 f7 w/ L5 v- r = 0.06 (6 percent)6 n9 q, S2 ~/ N/ E8 X
- Interest is paid annually to the Lottery Corporation |
|