Calculate the Binomial Coefficient $\left( \begin{array} { l } 8 \\ 7 \end{array} \right)$

question 64

Multiple Choice

Calculate the binomial coefficient: $\left( \begin{array} { l } 8 \\ 7 \end{array} \right)$

• A) 40,320
• B) 56
• C) 8
• D) 1
• E) 0

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Definitions:

Single Life Annuity Contract

A Single Life Annuity Contract is an annuity that pays out a fixed or variable income stream to an individual for their lifetime, with payments ceasing upon their death.

Expected Return

The forecasted amount of profit or loss from an investment over a specific period.

Nondeductible Contributions

are contributions made to certain retirement accounts or plans that cannot be deducted from the taxpayer's income.

Taxable Portion

The segment of income, withdrawals, or distributions subject to taxation, after accounting for exemptions, deductions, or pre-tax contributions.