 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.
7 t/ T6 C/ n7 v4 D7 }a) Calculate the amount of money that the Alberta Lottery Corporation must keep in the bank to be able to pay the weekly prize.9 ]: Q: n6 t5 Z [, d
Assume the following:
8 O% M* r* m5 y. v- r = 0.06 (6 percent)
) n' ^3 w9 ~ q& A* H- Interest is paid annually to the Lottery Corporation |
|