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13th Edition

Anderson

Publisher: CENGAGE L

ISBN: 9781305881884

Chapter 4.2, Problem 20E

**a.**

To determine

Compute the probability of being financially independent for each of the four age categories.

**b.**

To determine

Compute the probability of being financially independent before the age of 25.

**c.**

To determine

Compute the probability of being financially independent after the age of 24.

**d.**

To determine

Check whether the probabilities suggest that teenagers may be somewhat unrealistic in their expectation about when they will become financially independent.