 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 $2 million now., S4 T7 g# e9 R9 h( ?& \9 m
a) Calculate the amount of money that the Alberta Lottery Corporation must keep in the bank to be able to pay the weekly prize.( c6 q- R4 O" S7 [
Assume the following:
0 v, H/ v$ N5 G' Y- r = 0.06 (6 percent)4 ?# ?* c; t S8 E
- Interest is paid annually to the Lottery Corporation |
|