 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.
. E8 H( U4 a u& J& e+ _4 Z! Y* Ha) Calculate the amount of money that the Alberta Lottery Corporation must keep in the bank to be able to pay the weekly prize.& t& h; F* ]* t* i, M; [8 Y8 K! @
Assume the following:
0 f4 O9 b: |2 @ Z- r = 0.06 (6 percent)
/ }% S* D0 A! _" M. [. s- Interest is paid annually to the Lottery Corporation |
|