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. 4 z; m7 r- m# t7 e2 f# K* u2 e8 wa) Calculate the amount of money that the Alberta Lottery Corporation must keep in the bank to be able to pay the weekly prize. 3 a8 ?1 Z( Y+ k% P+ c0 BAssume the following: , f0 @9 v5 l+ P! ]) M- r = 0.06 (6 percent)- L% K- q( w6 V
- Interest is paid annually to the Lottery Corporation