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According to Wikipedia Publishers Clearing House (PCH) is a direct marketing company that markets merchandise and magazine subscriptions with sweepstakes and price-based games Publishers Clearing House was founded in 1953 by Harold Mertz to niplace door to door magazine subscription sale by a single vendor offering multiple subscriptions by mail. It introduced its swoepstakes in 1967. In the early 1990s, the company was the subject of concerns and legal actions regarding whether consumers were misted about their odds of winning the sweepstakes and whether purchases increased their chances. By 2010, the company had reached settlements with all 50 states The company acquired search company Bingo in 2006, online gaming company Funtank in 2010, and mobile marketing company Liquid Wireless in 2012 Publishers Clearing House (PCH) is a private company, headquartered in Jericho, NY. The company's revenue in 2013 was $840.6 million and it has 500 employees Assignment You are hired by the PCH. As one of your first assignments, the CEO asks you to calculate how much money should the firm set aside to be able to pay $500aweek to the winner of the sweepstake. Assume that the winner will live for another 25 years and the next designated winner will live for another 40 years, and the company can eam 2%/year interest on its funds b. Explain to your 10 year old cousin in 2-3 sentences what the answer means (Hint: convert all information to weeks, 4 decimals-please) SHOW WORK

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