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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 $2 million now.3 y" `& ?* C. v6 x7 R
a) Calculate the amount of money that the Alberta Lottery Corporation must keep in the bank to be able to pay the weekly prize.2 H2 s! l$ v3 E. `
Assume the following:
$ N2 @* q% n4 w7 b- [4 E- r = 0.06 (6 percent)
, k4 d) X' C/ s6 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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