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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 $2 million now.5 \' u: I/ o( B9 @
a) Calculate the amount of money that the Alberta Lottery Corporation must keep in the bank to be able to pay the weekly prize.+ r6 S1 ^# w. n" j$ ?
Assume the following:2 @+ i# f, V% s5 H) q7 j
- r = 0.06 (6 percent)
: f5 q7 z7 ~# F6 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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