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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.1 S2 k& T- @7 O+ F ]% c* J
a) Calculate the amount of money that the Alberta Lottery Corporation must keep in the bank to be able to pay the weekly prize.+ `1 `2 W+ T' ]3 ?0 J0 }
Assume the following:8 |/ b& D* \; M
- r = 0.06 (6 percent)2 e, g, v% V: v0 \1 ]: S1 T. J9 y# M% N n
- Interest is paid annually to the Lottery Corporation |
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发表于 2010-1-24 22:43
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