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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.% l3 o. ]# K v: x) t
a) Calculate the amount of money that the Alberta Lottery Corporation must keep in the bank to be able to pay the weekly prize.
& `3 |; ~: i( u' OAssume the following:* T0 O0 |1 |/ C1 z9 q, P
- r = 0.06 (6 percent)
* \9 \- f7 v' d+ i9 f+ Q3 f- d: P- Interest is paid annually to the Lottery Corporation |
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发表于 2010-1-24 22:43
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