Examlex
Pepsi is running a sales promotion in which 12% of all bottles have a "FREE" logo under the cap.
What is the probability that you find two free ones in a 6-pack?
Compounded Monthly
Interest calculation method where the accumulated interest is added to the principal amount every month, allowing the interest in the next month to be calculated on the increased total.
Interest
Interest is the charge for borrowing money, typically expressed as a percentage of the principal amount per year.
Deposits
Funds placed into an account in a bank or other financial institution for safekeeping.
Compounded Quarterly
Interest on an investment or loan calculated four times per year, adding each quarter's interest to the principal for the calculation of the next quarter's interest.
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