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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.
* c) K) b/ p% ]" ?0 Z3 b# ?a) Calculate the amount of money that the Alberta Lottery Corporation must keep in the bank to be able to pay the weekly prize.
. K" ^: m( _: A0 Y, DAssume the following:
7 V) ?* r. w* g. Y. _- r = 0.06 (6 percent)+ S5 B. z1 Y# Z
- Interest is paid annually to the Lottery Corporation |
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发表于 2010-1-24 22:43
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