A sporting goods store announces a “Wheel of Savings” sale. Customers select the merchandise they want to purchase, then at the cash register they spin a wheel to determine the size of the discount they will receive. The wheel is divided into 12 regions, like a clock. Six of those regions are red, and award a 10% discount. The three white regions award a 20% discount and two blue regions a 40% discount. The remaining region is gold, and a customer whose lucky spin lands there gets a 100% discount - the merchandise is free! Show your work.
-What is the probability that there is at least one gold winner among the first six customers?
Definitions:
Face Value
The nominal or original value printed on a financial instrument, such as a bond or stock certificate.
Notes Payable
Notes payable are written agreements where a borrower agrees to pay back the principal amount along with interest to a lender at a future date.
Accrued Interest
Accrued Interest is the interest that has accumulated on a bond or loan since the last interest payment date but has not yet been paid.
Liquidity
The measure of how quickly and easily an asset can be converted into cash without significant loss of value.
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