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 $2 million now.2 Y Q' g6 n5 y
a) Calculate the amount of money that the Alberta Lottery Corporation must keep in the bank to be able to pay the weekly prize.+ @0 W7 i2 M8 }% l
Assume the following:% {5 H- H* u4 k6 f* i2 m) f
- r = 0.06 (6 percent) 4 H* y$ D7 G* Q+ ^. N. D& @- Interest is paid annually to the Lottery Corporation
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发表于 2010-1-24 22:43
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