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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 $2 million now.
: Y! h5 d( l4 U( E5 qa) Calculate the amount of money that the Alberta Lottery Corporation must keep in the bank to be able to pay the weekly prize.
" S8 L$ h5 u& A, C* q9 yAssume the following:* _5 b, @/ r6 h
- r = 0.06 (6 percent)
* R1 Q+ V7 w' C1 Y" Q: K- Interest is paid annually to the Lottery Corporation |
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发表于 2010-1-24 22:43
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