What Amount Should Be Deposited in a Bank Account Today

question 28

Multiple Choice

What amount should be deposited in a bank account today to grow to $10,000 three years from today?

• A)$10,000 × 1.260
• B)$10,000 × 1.260 × 3
• C)$10,000 ÷ 1.260
• D)$10,000 ÷ 1.080 × 3

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Definitions:

Probability Notation

The standard symbols and formulations used to represent probabilities in mathematical expressions.

Conditional Probability

The chance of a specific event occurring, conditional on the occurrence of another event beforehand.

Intersection

The point or set of points where two or more objects or sets, such as lines or sets in mathematics, meet or overlap.

Events A And B

Refers to two occurrences in probability and statistics that can be analyzed for their individual or joint likelihood.