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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 $2 million now.
: T& B8 T4 M x* Sa) Calculate the amount of money that the Alberta Lottery Corporation must keep in the bank to be able to pay the weekly prize.' C: k0 `$ K3 Y
Assume the following:
/ h% ~# q ~2 v# k# |, U9 x" R- r = 0.06 (6 percent)5 E& E" O' u, B+ u6 ]
- Interest is paid annually to the Lottery Corporation |
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发表于 2010-1-24 22:43
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