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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 $2 million now.
! [+ ~6 r. {. g4 Ua) Calculate the amount of money that the Alberta Lottery Corporation must keep in the bank to be able to pay the weekly prize.
* e/ _- C5 ^: B7 p1 R2 Q, HAssume the following:
) @, W2 w$ t8 C: m1 P5 V" c/ }- r = 0.06 (6 percent). V' i3 }$ k, `) @4 I- g" o
- Interest is paid annually to the Lottery Corporation |
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发表于 2010-1-24 22:43
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