Answer:
B. $136,960.54
Step-by-step explanation:
Rate = r = 4%
Times = b = 4
Future Value = A = $315,930
No. pf Years = n = 21
Present Value = P = ?
A = P [1 + (r / b)]ⁿᵇ
$315,930 = P [1 + (0.04 / 4]²¹ ˣ ⁴
$315,930 = P [1 + 0.01]⁸⁴
$315,930 = P [1.01]⁸⁴
$315,930 = P x 2.306723
P = $315,930 / 2.306723
P = $136,960.54
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Answer:
0.9940
Step-by-step explanation:
P(at least 1) = 1 − P(zero)
P(at least 1) = 1 − (1 − 0.64)⁵
P(at least 1) = 1 − (0.36)⁵
P(at least 1) = 0.9940
