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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 $2 million now.
& j& R7 w6 A+ v$ q2 Q* Sa) Calculate the amount of money that the Alberta Lottery Corporation must keep in the bank to be able to pay the weekly prize.
2 g( F6 l7 g$ O1 a: H( ]* \Assume the following:
3 v5 u# H" \8 R# _ o- r = 0.06 (6 percent)# Y3 h; y6 R: W, N; [& E4 X
- Interest is paid annually to the Lottery Corporation |
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发表于 2010-1-24 22:43
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