 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.5 x2 u! W5 @7 P5 @
a) Calculate the amount of money that the Alberta Lottery Corporation must keep in the bank to be able to pay the weekly prize.
* a/ C! V4 r* d& k1 MAssume the following:: {4 O: x' w. A1 z% M5 D& L
- r = 0.06 (6 percent)
' b, w3 N: }7 J: c- Interest is paid annually to the Lottery Corporation |
|