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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 $2 million now.
5 K* l, W, e$ V- M2 Qa) Calculate the amount of money that the Alberta Lottery Corporation must keep in the bank to be able to pay the weekly prize.% R5 q5 m( I$ G/ B% B0 a% k
Assume the following:
$ |; t7 `. D% C: Y2 A( }8 M, V- r = 0.06 (6 percent)
3 b- N$ q% [9 L- Interest is paid annually to the Lottery Corporation |
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发表于 2010-1-24 22:43
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