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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 $2 million now.+ E: R8 C: F3 ?' v( d {+ M( ]" m; V7 |
a) Calculate the amount of money that the Alberta Lottery Corporation must keep in the bank to be able to pay the weekly prize., F, J5 L7 i: b% w- j1 \: `
Assume the following:
, F( N9 c. D$ i* ~2 r- r = 0.06 (6 percent)8 R4 o, W0 ]- W G% V
- Interest is paid annually to the Lottery Corporation |
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发表于 2010-1-24 22:43
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