Neco Model Questions Vol1 2022 Geography Question 42
Practice objective / multiple choice question 42 from the 2022 Neco Model Questions Vol1 Geography examination.
A region is prone to earthquakes. The probability that an earthquake of magnitude greater than 6.0 occurs in any given year is \(0.005\). If such an earthquake occurs, the expected damage cost is \(\text{₦}200,000,000\).\n(a) What is the expected annual loss due to earthquakes?\n(b) Assuming the expected loss occurs every year, calculate the present value of this stream of losses over 20 years using a discount rate of \(8\%\) per annum. Give your answer in millions of naira to two decimal places.
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About This Question
This is Neco Model Questions Vol1 2022 Geography Question 42. It is one of the objective questions from the 2022 Neco Model Questions Vol1 Geography examination.
Difficulty level: Hard .
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