Anyone that could be of some assistance for these two questions with the work attached would be great! Thanks

2. (6 points) Suppose that the pure rate of time preference is 2%, the annual growth rate of consumptions is 4%, and the elasticity of the marginal utility of consumption is 1.5. Calculate the social discount rate, or social rate of time preference. Show your work. (The formula is in the book and PowerPoints) 3. (8 points) Suppose that I am willing to pay $400 for anti-lock brakes that reduce my chance of dying in a car accident from 9 in 10,000 (0.0309) to 5 in 10,000, (0.0005). Based on this choice, what would be an estimate of the minimum value that I place on a statistical life? Show your work.

2. ( 6 points) Suppose that the pure rate of time preference is 2%, the annual growth rate of consumptions is 4%, and the elasticity of the marginal utility of consumption is 1.5 . Calculate the social discount rate, or social rate of time preference. Show your work. (The formula is in the book and PowerPoints) 3. ( 8 points) Suppose that I am willing to pay $400 for anti-lock brakes that reduce my chance of dying in a car accident from 9 in 10,000(0.0109) to 5 in 10,000,(0.0005). Based on this choice, what would be an estimate of the minimum value that I place on a statistical life? Show your work