6. In the last year Wendys customers earned a total of 12,700,000 points however only 4,381,500 points have been redeemed. What is the redemption rate?

a) 34.5%

b) 84.2%

c) 64.3%

d) 42.6%

7. The Royal Bank offers a credit card where you can collect points that can be redeemed for one of two things: either an RRSP or an airline ticket. RBC's cost for redeeming the RRSP reward is $0.10 per point (i.e., people can exchange 1,000 points for a $100 RRSP). The plane ticket redemption is far more variable. Last year they redeemed 25 million points for airline tickets, at a total cost of $1,000,000. They are trying to determine their liability for this loyalty program. RBC currently has 200 million points outstanding. Based on historical data, they know that 65% of these points will be redeemed. Further, they estimate that of the redeemed points, 60% of people will choose the airline ticket. What is RBC's total liability for the program?

a) $8,320,000

b) $3,120,000

c) $5,200,000

d) $8,400,000

e) correct answer not listed