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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.
) K" N# D5 J4 {+ X9 f4 c4 Z! l& W' {a) Calculate the amount of money that the Alberta Lottery Corporation must keep in the bank to be able to pay the weekly prize.
: v. y3 f4 Q" W/ E3 m8 TAssume the following:8 x" `! w/ ~6 a7 r
- r = 0.06 (6 percent): o+ E( V; s; U, y6 X
- Interest is paid annually to the Lottery Corporation |
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发表于 2010-1-24 22:43
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