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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 $2 million now., ?) j2 ~. G# o
a) Calculate the amount of money that the Alberta Lottery Corporation must keep in the bank to be able to pay the weekly prize.
( O0 H0 \& y: V$ u9 E9 V5 |Assume the following:
/ C+ W7 @7 I, @+ t# l# Q- r = 0.06 (6 percent)
, V$ [7 |& L0 s, |) Q, h- Interest is paid annually to the Lottery Corporation |
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发表于 2010-1-24 22:43
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