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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.
" `4 i" o% Z8 V' X" D) x5 ta) Calculate the amount of money that the Alberta Lottery Corporation must keep in the bank to be able to pay the weekly prize.: `! N% {2 b. X7 c: m! l/ Z
Assume the following:
! M7 K( N) ^' j H8 \$ z' U6 ^4 Y) D- r = 0.06 (6 percent)1 ?) p; q, R" }# L6 e' {: X4 ^# v
- Interest is paid annually to the Lottery Corporation |
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发表于 2010-1-24 22:43
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