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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 $2 million now.2 O% B7 U- x5 r, B# @/ M1 X5 @
a) Calculate the amount of money that the Alberta Lottery Corporation must keep in the bank to be able to pay the weekly prize.& M* C5 F0 U( U) \8 P3 E' b
Assume the following:! s; y$ d; w+ f1 p' m1 {
- r = 0.06 (6 percent)+ f D: h; F9 Q) {
- Interest is paid annually to the Lottery Corporation |
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发表于 2010-1-24 22:43
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