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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.
0 T8 m: E7 A; H+ da) Calculate the amount of money that the Alberta Lottery Corporation must keep in the bank to be able to pay the weekly prize.
$ [- |! [( ]# K# V" WAssume the following:
8 ^# N1 S3 f8 A+ w. B$ v, E- r = 0.06 (6 percent)
5 O$ @0 o0 v( v$ O+ I! @) S- Interest is paid annually to the Lottery Corporation |
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发表于 2010-1-24 22:43
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