 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 $2 million now.
* v# X0 b$ `- i+ F6 h( Q8 o4 ta) Calculate the amount of money that the Alberta Lottery Corporation must keep in the bank to be able to pay the weekly prize.
6 q* J6 {9 A0 A5 O' AAssume the following:! q: r9 j4 G+ \+ j. p5 G
- r = 0.06 (6 percent)
1 p( O0 N, w; N- S0 {- Interest is paid annually to the Lottery Corporation |
|