 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 $2 million now.* p& P2 Y4 A7 D; s/ {7 B+ V
a) Calculate the amount of money that the Alberta Lottery Corporation must keep in the bank to be able to pay the weekly prize.
2 ]# T9 [2 B& ~8 }! h+ h$ kAssume the following:% ?, a" v4 `3 y, D* \
- r = 0.06 (6 percent)0 ?, D4 }. A. \' ^& g1 ]9 O
- Interest is paid annually to the Lottery Corporation |
|