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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 $2 million now.
?3 |; R+ {+ W, N! na) Calculate the amount of money that the Alberta Lottery Corporation must keep in the bank to be able to pay the weekly prize. f2 `3 c8 E8 }- y* {! e s
Assume the following:
8 x- J, y1 C9 k# T$ }- r = 0.06 (6 percent)
9 R4 @* Q# h7 ]4 a' W1 |- Interest is paid annually to the Lottery Corporation |
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发表于 2010-1-24 22:43
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