1. Sam has won $10,000 in mini lottery which he can pick up today at tottery office or he could wait up to one vear to ject his $10,000 winning 1 (a) What is the best eption for Sam to pick up his winnings? Check one. 2 Marks (b) Explain Why (c) At current interest rates, estimate the difference in value to 5am if he picks up his winning today or in one year 2. Elizabeth, a student is going to buy a new computer costing $1530. 5 he does not have cash on hand to make this purchase. She expects to have money to pay it off in 180 days. Calculate her interest cost if she makes her purchase financed in the followingmethods. (a) She pays with a cheque from her personal line of credit which has a rate of 12.99% (b) She pays with her credit card which has 25 days free and then starts charging 20.99%6 interest