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Bank Loans

APSTAT-YYCDMY

A large corporation hopes to get a loan to build an addition to its current corporate headquarters.

From experience, the president of the company has determined an $8\%$ chance of getting approved for the loan from any given bank, so she sends out applications to $10$ different banks.

Assuming each bank considers the loan independent, what is the probability that at least one of the $10$ banks selected grants the loan?

A

$0.08$

B

$0.92$

C

$0.5656$

D

$0.4344$

E

$0.9832$