What is the interest earned for $5,000 compounded annually for 4 year at 6%.
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There are total 600 number of ways or permutations the top two finishers can be determined.
According to the given question.
Total number of people who are participating in a race = 25
In 25 participants the total number of participants to be selected to finish the race = 2
As we know that "a permutation is a mathematical calculation of the number of ways a particular set can be arranged, where the order of the arrangement matters". Which can be calculated as
Where,
is the number of permutations
n is the total number of objects
r is the numbers of objects to be selected
Thereofore,
The total number of ways, or permutaions the two top finishers can be determined is given by
= 25!/(25-2)!
= 25!/23!
= 25 × 24 × 23!/23!
= 25 × 24
= 600
Hence, there are total 600 ways or number of permutations the top two finishers can be determined.
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