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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 $2 million now.+ ^1 V' l2 ~- L0 w
a) Calculate the amount of money that the Alberta Lottery Corporation must keep in the bank to be able to pay the weekly prize.
% I. L0 }: ]" X& ZAssume the following:
+ g+ l% ~$ p$ F- r = 0.06 (6 percent)
9 w, a. \' F7 E, ?+ r5 W+ |2 R, w- Interest is paid annually to the Lottery Corporation |
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发表于 2010-1-24 22:43
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