 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.: F; y4 _( ], `! I
a) Calculate the amount of money that the Alberta Lottery Corporation must keep in the bank to be able to pay the weekly prize.
# K/ U+ B: A5 j# {9 T) B4 ?Assume the following:+ ^ u/ H: a% S& M) U3 W
- r = 0.06 (6 percent)" x6 E8 A6 G. i% T5 [ |' U# c
- Interest is paid annually to the Lottery Corporation |
|