Ten Little Monkeys Were Jumping on a Bed

question 1

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 if the monkeys jump every day for a week that at least one will
fall off of the bed?

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Definitions:

Fiscal Year

A 12-month period used for accounting purposes and preparing financial statements, which may or may not align with the calendar year.

Premium, Discount, or Par

A classification to describe if a bond is trading above (premium), below (discount), or at its face value (par).

Market Rate

The ongoing market rate at which you can buy or sell an asset or service.

Contract Rate

The interest rate stated in a loan or lease agreement, dictating the rate at which interest accrues on the outstanding principal.