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Find the probability.
-When a pair of dice is rolled there are 36 different possible outcomes: 1-1, 1-2, ... 6-6. If a pair of dice is rolled 4 times, what is the probability of getting a sum of 5 every time?
Present Value
The current evaluation of a future sum of money or chain of cash inflows, when calculated at an explicit rate of return.
Compounded Semiannually
Compounded Semiannually refers to the process of applying interest to both the initial principal and accumulated interest of a deposit or loan on a twice-yearly basis.
Present Value
The today's price of a future amount of money or streams of cash inflow, under a specified yield rate.
Compounded Monthly
Refers to the process of calculating interest where the accumulated interest is added to the principal sum at the end of each month, leading to "interest on interest."
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