The Sultan of Brunei is reportedly the world's richest person, with wealth estimated at $37 billion. How much could the Sultan spend yearly for 40 years if he were to devote the entire $37 billion to leading a life of luxury?© BrainMass Inc. brainmass.com December 24, 2021, 4:43 pm ad1c9bdddf
SOLUTION This solution is FREE courtesy of BrainMass!
Assume that his money is invested at 9% interest. The 40 year, 9% annuity factor is 10.76. Thus,
Present Value = annual spending X annuity factor
$37,000,000,000 = annual spending X 10.76
Annual Spending = $3,439,000,000