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. . a( Q5 O! f- s0 U; a) {' ca) Calculate the amount of money that the Alberta Lottery Corporation must keep in the bank to be able to pay the weekly prize.: j8 z6 D7 i' L) {: U/ L; O
Assume the following: 9 O1 d+ t- v( H- r = 0.06 (6 percent)7 A E9 Y9 N9 y
- Interest is paid annually to the Lottery Corporation
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发表于 2010-1-24 22:43
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