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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 $2 million now.# {$ S3 x) O+ m& |3 X* G
a) Calculate the amount of money that the Alberta Lottery Corporation must keep in the bank to be able to pay the weekly prize./ |; X2 b; V3 Y' ] O
Assume the following:8 S* K( U U- p% | H7 Y
- r = 0.06 (6 percent); F; I) \: q4 t0 B( s1 L& p" Y, |' F
- Interest is paid annually to the Lottery Corporation |
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发表于 2010-1-24 22:43
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