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 $2 million now.$ X4 k4 B+ G- {
a) Calculate the amount of money that the Alberta Lottery Corporation must keep in the bank to be able to pay the weekly prize. & Q5 D/ L2 w- v4 B6 AAssume the following:8 |; a; }1 a1 \/ X
- r = 0.06 (6 percent)) j! j4 D+ 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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