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.; Y5 i1 R+ a% U
a) Calculate the amount of money that the Alberta Lottery Corporation must keep in the bank to be able to pay the weekly prize.. w- b4 z* E' @1 w+ @" m4 t+ |" E
Assume the following: $ h# s E; s0 }* E- r = 0.06 (6 percent)) G$ t# g9 T+ B( V, @0 n7 \
- Interest is paid annually to the Lottery Corporation
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发表于 2010-1-24 22:43
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