Solve the Problem $\frac { 1 } { 120 }$ B) $\frac { 1 } { 45,239,040 }$

question 3

Multiple Choice

Solve the problem.
-In a certain lottery, five different numbers between 1 and 36 inclusive are drawn. These are the winning numbers. To win the lottery, a person must select the correct 5 numbers in the same order in which they were drawn. What is the probability of winning?

• A) \(\frac { 1 } { 120 }\)
• B) \(\frac { 1 } { 45,239,040 }\)
• C) \(\frac { 120 } { 45,239,040 }\)
• D) \(\frac { 1 } { 36 ! }\)

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Definitions:

Treasury Bill

A short-term government security issued at a discount from the face value and yielding the face value upon maturity.

Market Rate

The prevailing interest rate available in the marketplace for securities or loans, dictated by supply and demand forces.

Simple Interest

Interest earned or paid only on the original principal amount invested or loaned.

Prime Rate

The interest rate that commercial banks charge their most creditworthy customers, usually large corporations.