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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 $2 million now.
" l5 r- n( R" `7 v$ Ia) Calculate the amount of money that the Alberta Lottery Corporation must keep in the bank to be able to pay the weekly prize.& ]3 t% E m' K# a
Assume the following:
/ M6 o& V! G) n: m1 p2 g7 ]; }/ p1 [- r = 0.06 (6 percent)
/ {* f: T ?, f2 Y9 s- Interest is paid annually to the Lottery Corporation |
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发表于 2010-1-24 22:43
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