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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 $2 million now.
% F; Q2 W% B. \$ d& }7 Ha) Calculate the amount of money that the Alberta Lottery Corporation must keep in the bank to be able to pay the weekly prize.( E7 N+ \* ^5 \! _$ s8 q( Q
Assume the following:* c. K( G0 b+ X f. _, \# b
- r = 0.06 (6 percent)
0 l! V% \/ Q: q6 w, M5 b- Interest is paid annually to the Lottery Corporation |
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发表于 2010-1-24 22:43
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