 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 $2 million now.
1 e: X. a5 C! ba) Calculate the amount of money that the Alberta Lottery Corporation must keep in the bank to be able to pay the weekly prize.
/ ?. ]. c, ?" [" L% Q& |Assume the following:2 |( B6 f! S: B* \/ a
- r = 0.06 (6 percent)0 l3 b$ @, y# m3 Z" Q
- Interest is paid annually to the Lottery Corporation |
|