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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 $2 million now.
' ^! L) [$ u/ qa) Calculate the amount of money that the Alberta Lottery Corporation must keep in the bank to be able to pay the weekly prize.5 u9 p0 O/ U* ~# F3 E' X3 x, \5 e
Assume the following:% W: I) e K5 d. Z9 S" S) W/ A# A
- r = 0.06 (6 percent)# j3 w ?5 k0 I+ m$ j# V F
- Interest is paid annually to the Lottery Corporation |
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发表于 2010-1-24 22:43
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