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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 $2 million now.% X1 M4 R8 n2 Y/ c+ ]4 L# N, ]5 \
a) Calculate the amount of money that the Alberta Lottery Corporation must keep in the bank to be able to pay the weekly prize.
8 P9 X7 L5 Y9 v$ S, V& _9 IAssume the following:
) Z: N6 z: J% w. L" b+ [- r = 0.06 (6 percent)$ @. V- |. ?8 j4 D6 H9 T3 F" Z
- Interest is paid annually to the Lottery Corporation |
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发表于 2010-1-24 22:43
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