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.4 G' n/ v. Z s5 ?( D
a) Calculate the amount of money that the Alberta Lottery Corporation must keep in the bank to be able to pay the weekly prize.: c2 d" |0 |8 D* ?
Assume the following:3 r- p- ~+ o3 Y5 u
- r = 0.06 (6 percent)4 }) p! a4 N0 F v6 P1 L
- Interest is paid annually to the Lottery Corporation
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发表于 2010-1-24 22:43
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