 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 $2 million now.7 Y" a, w' L6 O$ s& A! M
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 c) r9 j0 ]. d I8 K% dAssume the following:
3 a' l' C. H; U7 w& x# W: j/ @- r = 0.06 (6 percent)* ~4 M' a( t8 T( F" o; ^! O; ]
- Interest is paid annually to the Lottery Corporation |
|