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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 $2 million now.) X* H% E8 }2 c* Q( p `' C7 L
a) Calculate the amount of money that the Alberta Lottery Corporation must keep in the bank to be able to pay the weekly prize.
2 O4 P! a0 t* l9 z: OAssume the following:
. e/ |, a4 v) R# ]: d/ M7 |' A- r = 0.06 (6 percent)
% W5 x6 e. R6 i& v8 `6 G+ e. {$ |- Interest is paid annually to the Lottery Corporation |
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发表于 2010-1-24 22:43
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