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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 $2 million now.
, T- C. n6 X8 u6 T4 G$ la) Calculate the amount of money that the Alberta Lottery Corporation must keep in the bank to be able to pay the weekly prize. v! t( P4 A9 y! {
Assume the following:. s& R9 M% t7 r" H
- r = 0.06 (6 percent)2 U1 x1 Z( _' X+ M" c6 G
- Interest is paid annually to the Lottery Corporation |
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发表于 2010-1-24 22:43
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