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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.9 e7 Q) {5 n( H, X/ E7 {
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! \) B9 K8 g. h$ h, K
Assume the following:
' V7 }% _" H' ?+ c# o4 U- r = 0.06 (6 percent)
% k5 J; ^# G& `1 c6 r% k, U- Interest is paid annually to the Lottery Corporation |
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发表于 2010-1-24 22:43
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