 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 $2 million now.+ z! Y: h% m+ V" |6 |: o0 p2 J, d
a) Calculate the amount of money that the Alberta Lottery Corporation must keep in the bank to be able to pay the weekly prize.
- i s1 O; ?+ |5 }' ]8 W8 |7 @2 y5 iAssume the following:
; S& Y$ ^5 a3 H- q5 P( i- r = 0.06 (6 percent)0 U( o" w6 ^! ~, S6 u: [& x
- Interest is paid annually to the Lottery Corporation |
|