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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 $2 million now.
d0 b2 `3 J. |3 N: P# A# [ \a) Calculate the amount of money that the Alberta Lottery Corporation must keep in the bank to be able to pay the weekly prize.' f E9 b' ^$ w
Assume the following:
+ z" q' i5 Q: J( S& z, c6 [8 w- r = 0.06 (6 percent)" j1 @+ k# z$ P
- Interest is paid annually to the Lottery Corporation |
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发表于 2010-1-24 22:43
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