 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 $2 million now.; R% h& `8 Y, H$ ]
a) Calculate the amount of money that the Alberta Lottery Corporation must keep in the bank to be able to pay the weekly prize.3 `4 ^9 m8 R3 H6 X# v
Assume the following:
, O% F9 k7 m# J/ }3 c$ T- r = 0.06 (6 percent)6 O( W7 @! Z# D# O9 d' p6 I7 r
- Interest is paid annually to the Lottery Corporation |
|