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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.
8 P, q* a+ v: Q+ {+ Xa) Calculate the amount of money that the Alberta Lottery Corporation must keep in the bank to be able to pay the weekly prize.: v9 f& M3 B% f- ?) n* T* J5 a
Assume the following:# R+ r, P; c- |# V
- r = 0.06 (6 percent)9 Q0 `4 G+ {6 p( @, S* d: n, t. y3 L& b
- Interest is paid annually to the Lottery Corporation |
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发表于 2010-1-24 22:43
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