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.- W8 }4 D; R- e/ v% Q
a) Calculate the amount of money that the Alberta Lottery Corporation must keep in the bank to be able to pay the weekly prize. : w2 {% q: ? W8 @2 }& Q9 G" g! gAssume the following:# b: U Y: U) j/ A+ J g6 u
- r = 0.06 (6 percent) C1 j+ _2 K( J& V# 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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