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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.
8 n4 D: l5 ?7 j! ja) Calculate the amount of money that the Alberta Lottery Corporation must keep in the bank to be able to pay the weekly prize.
. g f4 F% {4 h3 u0 [Assume the following:
, |* i. B( u) X6 t% f# P) T- r = 0.06 (6 percent)0 \+ x3 Y) y& B7 p5 r9 R9 i) ]3 w% S
- Interest is paid annually to the Lottery Corporation |
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发表于 2010-1-24 22:43
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