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A person aged 30 won a cash for life lottery. The lottery pays out the money as a whole life annuity due with the following
A person aged 30 won a "cash for life lottery. The lottery pays out the money as a whole life annuity due with the following payments: $72,000 annually for the first 15 years (i.e. first 15 payments) $36,000 annually for the next 5 years $54,000 annually thereafter . . b) (6 marks) Now instead of annual payments, assume the lottery pays out the following monthly payments: $6,000 monthly (at the beginning of each month) for the first 15 years $3,000 monthly (at the beginning of each month) for the next next 5 years $4,500 monthly (at the beginning of each month) thereafter . Using the stacking method, calculate the NSP of this annuity. A person aged 30 won a "cash for life lottery. The lottery pays out the money as a whole life annuity due with the following payments: $72,000 annually for the first 15 years (i.e. first 15 payments) $36,000 annually for the next 5 years $54,000 annually thereafter . . b) (6 marks) Now instead of annual payments, assume the lottery pays out the following monthly payments: $6,000 monthly (at the beginning of each month) for the first 15 years $3,000 monthly (at the beginning of each month) for the next next 5 years $4,500 monthly (at the beginning of each month) thereafter . Using the stacking method, calculate the NSP of this annuity
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