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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., i2 L. C# b" l% H
a) Calculate the amount of money that the Alberta Lottery Corporation must keep in the bank to be able to pay the weekly prize.' h% h; [7 s! c
Assume the following:* o: k: c w _# @; m1 ^) \/ r) L
- r = 0.06 (6 percent)8 v; Z: Y& B; o1 H2 d* ~
- Interest is paid annually to the Lottery Corporation |
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发表于 2010-1-24 22:43
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