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.* _ r9 {# O( `8 p/ _ v1 M2 z7 ]! y
a) Calculate the amount of money that the Alberta Lottery Corporation must keep in the bank to be able to pay the weekly prize.3 }0 D/ \' E( \$ W& S4 t* ^/ _
Assume the following:8 {& u) \; y: O' k& M
- r = 0.06 (6 percent)+ V) V0 D7 ]' \* _
- Interest is paid annually to the Lottery Corporation
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发表于 2010-1-24 22:43
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