the $700 you put into the bank is being continuously at 1.2%. how much will it be worth after 3 years?
1 answer:
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Answer:
0.216
Step-by-step explanation:
Given that a certain new type of business succeeds 60% of the time.
3 such businesses are tested for success.
Since these three businesses open (where they do not compete with each other, so it is reasonable to believe that their relative successes would be independent). we can say X no of successful businesses is Binomial
with p = 0.6 and n =3
Required probability
=The probability that all 3 businesses succeed is:
=