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 $2 million now. 6 H$ Q3 V0 q% s. U5 ta) Calculate the amount of money that the Alberta Lottery Corporation must keep in the bank to be able to pay the weekly prize. ' F8 Y- w9 u1 ~7 Y" @7 _Assume the following: 2 M3 [3 K) V6 U4 @- r = 0.06 (6 percent) + B+ {$ ?9 N: D$ V3 h9 n- Interest is paid annually to the Lottery Corporation