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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.! v! K6 K1 W' c. f& Z
a) Calculate the amount of money that the Alberta Lottery Corporation must keep in the bank to be able to pay the weekly prize.0 n! ~& B* p, h8 W9 y+ J k( f- J
Assume the following:/ k; p( j! j+ I
- r = 0.06 (6 percent)9 A, E' D1 F7 t- E: H
- Interest is paid annually to the Lottery Corporation |
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发表于 2010-1-24 22:43
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