Carolyn owes $9,620 on her Electronics Boutique credit card with a 16.4% interest rate. She owes $3,970 on her Miscellaneous Goo
2 answers:
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Answer:
96.02
Explanation:
Lottery's Expected utility = = 10
Income in good state = 100 - 36 + G = 64 + G
Income in bad state = 100 - 36 = 64
Probability in good state = 43%
Probability in bad state = 100% - 43% = 57%
Expected utility = Probability in good state x + Probability in bad state x
10 = 43% x + 57% x 8
10 = 43% x + 4.56
10 - 4.56 = 43% x
5.44 = = 43% x
5.44 / 43% =
12.65 =
=
160.0225 = 64 + G
G = 160.0225 - 64
G = 96.0225
G = 96.02