Solve the Problem $\frac { 1 } { 210 }$ B) $\frac { 1 } { 343 }$

question 3

Multiple Choice

Solve the problem.
-There are 7 finalists in a singing competition. If a person guesses randomly the top three winners (in any order) , what is the probability that they Will guess correctly?

• A) \(\frac { 1 } { 210 }\)
• B) \(\frac { 1 } { 343 }\)
• C) \(\frac { 1 } { 35 }\)
• D) \(\frac { 1 } { 21 }\)

Understand the concepts of ordinary general annuity, and its application in financial decisions.

Estimate the economic impact of changing payment frequencies on investments and loans.

Analyze the terms of a loan agreement to understand the implications of different interest rates and payment schedules.

Understand the calculation and application of present value in different financial contexts.

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Definitions:

Deferred Tax Assets

Assets on a company's balance sheet that may be used to reduce future tax liability resulting from temporary timing differences between accounting and tax treatments.

Current Tax Liabilities

Taxes owed to the government within the current fiscal year.

Temporary Difference

Refers to the differences that arise between the tax base of an asset or liability and its carrying amount in the financial statements, which will result in taxable or deductible amounts in future years.

Interest On Municipal Bonds

The periodic payments made to investors of municipal bonds, often exempt from federal and sometimes state and local taxes.