Please explain how to complete this and what the steps are:

Your friend offers an interesting wager. He offers to pay you $30 if you can flip 5 heads in a row on a fair coin. You only pay $1 if you lose. Youre considering whether to take the wager. You decide to take the wager only if it is a smart move according to probability (i.e. the wager must have a positive expected value).

(A) Calculate the probability of flipping 5 straight heads.

(B) Calculate the expected value of the wager. Hint: Use results from (A) and

P(win wager)*(Amount you would win) + P(lose wager)*(-Amount you would lose)

(C) Should you accept the wager? Why or why not?

(D) Calculate the minimum amount you would need to be offered to take the bet (use a little bit of algebra and the above equation).