In How Many Ways Can We Select a Committee of Three

question 49

Multiple Choice

In how many ways can we select a committee of three men and three women from a group composed of four men and five women?

• A) 40
• B) 35
• C) 21
• D) 33

Evaluate the benefits of prepayments or extra payments on loans and mortgages.

Understand the effect of term changes, interest rate changes, and refinancing on the amortization period.

Calculate the equivalent cash value of complex financial offers.

Understand the basics of mortgages including principal, interest rate, amortization period, and payment frequency.

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Definitions:

Mudflows

Rapid downhill movement of water-laden earth materials, primarily composed of fine-grained soils and clays, which can cause significant erosion and damage.

Pyroclastic Flow

A hot, fast-moving and deadly mixture of gases, ash, and volcanic material produced by explosive eruptions.

Scoria

A highly vesicular, dark colored volcanic rock that may or may not contain crystals, typically formed from the cooling of lava.

Tephra

Volcanic material ejected into the air during an eruption, including ash, bombs, and blocks, which can affect wide areas downwind of a volcano.