According to a credit rating agency, Moody’s, the chance that a D-graded municipal bond defaults in a given year is 8%. Suppose that the default of one municipal bond is independent from other bonds.

Suppose that a hedge fund company currently owns 20 (all different) D-grade municipal bonds. What is the probability that no bond will default in a given year?

Question

30-09-2022
Mathematics

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According to a credit rating agency, Moody’s, the chance that a D-graded municipal bond defaults in a given year is 8%. Suppose that the default of one municipal bond is independent from other bonds.

Suppose that a hedge fund company currently owns 20 (all different) D-grade municipal bonds. What is the probability that no bond will default in a given year?

Sagot :

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