Figure 17-4

question 503

Multiple Choice

Figure 17-4. Aaron and Ed are roommates. After a big snowstorm, their driveway needs to be shoveled. Each person has to decide whether to take part in shoveling the driveway. At the end of the day, either the driveway will be shoveled (if one or both roommates take part in shoveling) , or it will remain unshoveled (if neither roommate shovels) . With happiness measured on a scale of 1 (very unhappy) to 10 (very happy) , the possible outcomes are as follows:
-Refer to Figure 17-4. If this game is played only once, then which of the following outcomes is the most likely one?

• A)Aaron and Ed both shovel.
• B)Aaron shovels and Ed does not shovel.
• C)Ed shovels and Aaron does not shovel.
• D)All of the above outcomes are equally likely.

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Definitions:

Deposit

A sum of money placed or kept in a bank account, usually to gain interest.

Future Value

The amount of money an investment is expected to grow to over a period at a specified rate of interest or return.

Interest Factors

Mathematical factors used to calculate the future or present value of cash flows based on an interest rate.