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 $2 million now.% q; D' x" N# f$ I5 X
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 U3 v5 N' O: j( o. N
Assume the following:. S* e9 O T: T N+ u5 H: E9 v3 x1 f) F
- r = 0.06 (6 percent)6 `! O$ [$ T j' G& q
- Interest is paid annually to the Lottery Corporation
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发表于 2010-1-24 22:43
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