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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 $2 million now.
2 Y7 R# l& T, l+ F) |3 _1 | e/ A$ ^a) Calculate the amount of money that the Alberta Lottery Corporation must keep in the bank to be able to pay the weekly prize.
8 J" C; S8 L* y: u+ v% U! i5 W4 AAssume the following:8 @3 y5 w9 h& | W
- r = 0.06 (6 percent)1 L% U0 W4 A1 A+ S [
- Interest is paid annually to the Lottery Corporation |
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发表于 2010-1-24 22:43
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