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.% w0 u. l5 f; ?% t
a) Calculate the amount of money that the Alberta Lottery Corporation must keep in the bank to be able to pay the weekly prize.: r O/ ~9 i! L2 p) m
Assume the following:, @ e: }1 K8 V% [! @( y9 k2 z
- r = 0.06 (6 percent) 0 O* D: J5 n' Q3 j: T G3 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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