A risk analyst working at a home loan company is in the process of updating a table that profiles the risks associated with borrowers. This table is crucial for creating and assessing home loans. The analyst is particularly interested in understanding the impact of government-backed mortgage companies in the United States—specifically Fannie Mae, Freddie Mac, and Ginnie Mae—on a borrower's likelihood of defaulting on their home loan. The following data has been collected: - There is a 62% probability that a borrower’s home loan is backed by one of these government agencies. - 32% of borrowers belong to the millennial age group. - Among the borrowers whose home loans are agency-backed, 17% are millennials. Given these statistics, determine the probability that a millennial borrower has a home loan that is secured by a government agency. | Financial Risk Manager Part 1 Quiz - LeetQuiz