 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 $2 million now.
2 S& A. A' c9 d; Ja) Calculate the amount of money that the Alberta Lottery Corporation must keep in the bank to be able to pay the weekly prize., F9 j' S+ F# `& L
Assume the following:$ m: A* t8 B6 N w; r5 I
- r = 0.06 (6 percent)" N8 M# k) w. }/ g$ B; F, ~6 }
- Interest is paid annually to the Lottery Corporation |
|