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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.3 p0 R. i, _2 a
a) Calculate the amount of money that the Alberta Lottery Corporation must keep in the bank to be able to pay the weekly prize.
$ _# f4 I7 y2 W- GAssume the following:
n$ B9 d, B u& \- r = 0.06 (6 percent)0 q7 A# X; S9 c
- Interest is paid annually to the Lottery Corporation |
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发表于 2010-1-24 22:43
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