In a Horse Race, Nine Horses Are Running

question 136

Short Answer

In a horse race, nine horses are running. Assume you have purchased a Trifecta ticket. (In Trifecta, the player selects three horses as first, second, and third place winners. To win, those three horses must finish the race in the precise order the player has selected.) How many possibilities of a Trifecta exist?

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Definitions:

Income Tax Rate

The portion of an individual's or corporation's income that goes to taxes.

Straight-Line Depreciation

A technique for segmenting the cost of a material asset over its life in even annual segments.

After-Tax Discount Rate

The discount rate used in financial calculations that reflects the net cost of capital after accounting for the effects of taxes.

Discount Factor

A factor by which a future cash flow is multiplied to obtain its present value.