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.; o7 {* e+ d& b' k1 }
a) Calculate the amount of money that the Alberta Lottery Corporation must keep in the bank to be able to pay the weekly prize.# h" {/ W( U. E- T
Assume the following:9 o- m+ b( O% b; [' j2 l9 u0 l
- r = 0.06 (6 percent)9 d; Z5 D4 y) X6 w6 n) _1 M- v
- Interest is paid annually to the Lottery Corporation
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发表于 2010-1-24 22:43
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