# probability ii amp financial math

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For this module’s assignment review the following.

- In the following problem give your answer using the notation
_{n}P_{r}or_{n}C_{r}. You don’t have to give an actual numerical answer.- There are 10 athletes entered in a race. If a gold, silver, or bronze medal is given to three of the athletes, in how many ways can one pick the winners of the gold, silver, and bronze medals?
- There are 10 athletes entered in a race. If three identical gold medals are given to the group of athletes, in how many ways can one pick the winners of the gold medals?

- A card is drawn out of a standard deck of 52 cards. Each card can be described by giving its “rank” (A, 2, 3, 4,…10, J, Q, K) and its “suit” (H for hearts, C for clubs, D for diamonds, and S for spades). For example, 2S denotes the two of spades and KH denotes the king of hearts.
__Write out the event described by each of the following statements as a set__.- E
_{1}: “draw a king.” - E
_{2}: “draw a heart.” - E
_{3}: “draw a face card.” (A “face” card is a jack, queen, or king.) - E
_{4}: “draw a joker.”

- E
- A card is drawn at random out of a well-shuffled deck of 52 cards.
__Find the probability of each of the following events__. (Do problem #2 first.)- E
_{1}: “draw a king.” - E
_{2}: “draw a heart.” - E
_{3}: “draw a face card.” (A “face” card is a jack, queen, or king.) - E
_{4}: “draw a joker.”

- E
- Out of 420 students who took a statistics test, 260 passed. What percentage of the students passed the test?
- An employee’s hourly wage increased from $11.00 per hour to $13.50 per hour. What is the percentage increase in their wage?
- Suppose that you deposit $3,250.00 in a savings account that pays 0.4% annual simple interest.

Assuming no withdrawals are made, find the balance in the account after 6 years.

Round your answer to the nearest penny. - Suppose that you deposit $3,250.00 in a savings account that pays 0.4% annual interest, with interest credited to the account at the end of each year. Assuming no withdrawals are made, find the balance in the account after 6 years. Round your answer to the nearest penny.
- Suppose $3,250.00 is invested in a savings account with an APR of 0.4% compounded monthly. Assuming no withdrawals are made, find the balance in the account after 6 years. Round your answer to the nearest penny.

Submit your answers to the questions above by downloading and completing the Probability I Problem Set Worksheet.

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