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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.
$ G+ J2 N3 d) [3 ]; c- Xa) Calculate the amount of money that the Alberta Lottery Corporation must keep in the bank to be able to pay the weekly prize.
3 V7 E6 t$ Y4 o- S' ~Assume the following:3 _$ _+ e0 _7 `- }' X8 p
- r = 0.06 (6 percent)
7 r+ a, b. T! ]- ]; Q0 S( f$ ^- Interest is paid annually to the Lottery Corporation |
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发表于 2010-1-24 22:43
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