The following data consists of a matrix of transition probabilities (P)of Accounting, Economics, Finance, and Management and the count of students in each major.Assume that each state represents a major and the transition probabilities represent changes from one major to the next after taking the introductory class in each discipline.
P = 
π(0)= (600, 50, 200, 250)
Determine the number of majors in each discipline once steady state has been achieved.
Definitions:
Bond Indenture
A contract that spells out the provisions of the contract between the corporation and bondholder.
Interest Rate
The percentage at which interest is paid by a borrower for the use of money, or the amount a lender charges for the borrowing of money.
Contract Rate
The agreed-upon interest rate specified in a loan or bond agreement.
Market Rate
The current price at which an asset or service can be bought or sold in a given market.
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