At Wassamatta University, 59

question 122

Multiple Choice

At Wassamatta University, 59.3% of the student body are males. Choose one student at random. What is the probability that the student is female?

• A) 50%
• B) -9.3%
• C) 40.7%
• D) 59.3%

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Definitions:

Effective Annual Rate

The annualized rate of interest on a loan or financial product, adjusted for the effects of compounding.

Continuous Compounding

A mathematical approach where interest earnings are immediately reinvested to generate additional earnings continuously.

Stated Rate

The annual interest rate stated on a financial instrument, such as a loan or bond, not adjusting for compounding or fees.

Interest-Only Loan

A loan where the borrower is required to pay only the interest on the principal balance for a set period of time.