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Vsevolod [243]
2 years ago
11

A man buys a racehorse for ​$20 comma 00020,000 and enters it in two races. He plans to sell the horse​ afterward, hoping to mak

e a profit. If the horse wins both​ races, its value will jump to ​$70 comma 00070,000. If it wins one of the​ races, it will be worth ​$45 comma 00045,000. If it loses both​ races, it will be worth only ​$10 comma 00010,000. The man believes there is a 3030​% chance that the horse will win the first race and a 3535​% chance that it will win the second one. Assuming that the two races are independent​ events, find the​ man's expected profit.
Business
1 answer:
Step2247 [10]2 years ago
7 0

Answer:

<h2>A man buys a racehorse for $20,000 and enters it in two races. He plans to sell the horse afterward, hoping to make a profit. If the horse wins both races, its value will jump to $100,000. If it wins one of the races, it will be worth <em>$50,000.</em></h2>

Explanation:

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Wages of solar panel installers increase in another town and attract workers away from Billy's town.

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Explanation:

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Windhoek Mines, Ltd., of Namibia, is contemplating the purchase of equipment to exploit a mineral deposit on land to which the c
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Answer:

Windhoek Mines, Ltd.

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=  ($232,950).

Explanation:

a) Data and Calculations:

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Annual net cash receipts = $120,000

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                                                           Cash Flows   PV factor  Present Value

Cost of new equipment and timbers  $500,000      1               -$500,000

Working capital required                        100,000       1                 -100,000

Annual net cash receipts                       120,000     2.589            310,680

Cost to construct new roads in 3 years 40,000     0.579             -23,160

Salvage value of equipment in 4 years 65,000     0.482               31,330

Working capital released in 4 years     100,000     0.482              48,200

Net present value                                                                      ($232,950)

4 0
3 years ago
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