Ten Little Monkeys Were Jumping on a Bed

question 66

Essay

Ten little monkeys were jumping on a bed. There is a 35% chance that one will fall off and bump his head. In the bedroom next door, five kangaroos were jumping on a bed. Being more adept at jumping, there is only a 20% that a kangaroo will fall off the bed.
-What are the chances that the kangaroos can jump two nights in a row with no one falling off the bed?

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Definitions:

Secured Perfected Creditor

A lender that has a legal right to take possession of the collateral if the borrower fails to fulfill the repayment obligations.

Collateral

Property or assets pledged as security for the repayment of a loan, subject to seizure on default.

Secured Unperfected Creditor

A creditor that has a security interest in the debtor's property but has not completed all legal steps or filings to perfect the claim.

Financing Statement

A document filed to give public notice of a secured party's interest in the debtor's collateral.