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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 a9 H: j# w# _, ?' w4 C. X
a) Calculate the amount of money that the Alberta Lottery Corporation must keep in the bank to be able to pay the weekly prize.
2 U: D5 q' H) L0 b5 M4 `Assume the following:
. S+ {# V3 h) z5 f7 T; r- r = 0.06 (6 percent)4 F- m3 V4 J( r1 s6 ?
- Interest is paid annually to the Lottery Corporation |
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发表于 2010-1-24 22:43
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