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.8 e `) c+ }- ]& \% a
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+ c; A1 a g6 i2 _1 {
Assume the following: |# C% _# J: f4 w+ B2 Y
- r = 0.06 (6 percent) , n0 x2 _: W6 _ a+ m- Interest is paid annually to the Lottery Corporation
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发表于 2010-1-24 22:43
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