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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 $2 million now.- b3 L. h$ G0 A+ T. v: E
a) Calculate the amount of money that the Alberta Lottery Corporation must keep in the bank to be able to pay the weekly prize.: o1 Q( Q0 c6 T9 d
Assume the following:- W+ F0 {, i* {* q9 j' {7 v
- r = 0.06 (6 percent)7 m6 V, o1 r2 M+ w; a# L
- Interest is paid annually to the Lottery Corporation |
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发表于 2010-1-24 22:43
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