 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 $2 million now.# i% J9 x Z' P* E5 a/ J& P
a) Calculate the amount of money that the Alberta Lottery Corporation must keep in the bank to be able to pay the weekly prize.
# H! b$ c+ X3 J) m \1 K, N4 aAssume the following:
9 @5 q! R3 G* H2 t( ?! j+ G# ~$ {. i- r = 0.06 (6 percent)
6 r9 l# E" m# k- Interest is paid annually to the Lottery Corporation |
|