In a raffle contest, there are 45 blue tickets and 5 gold tickets in a bag. Contestants are given three chances to draw a ticket, and each time they draw a gold ticket, they receive a prize. However, if someone draws a gold ticket on ALL THREE DRAWS, they win a new car. If the tickets are not replaced after each draw, what is the probability of winning the new car?

P(gold ticket on 1st draw)=5/50=1/10=0.10

P(assuming gold ticket on 1st draw, gold ticket on 2nd draw)=4/49=0.08

P(assuming gold ticket on 1st and 2nd draw, gold ticket on 3rd draw)=3/48=1/16=0.06

P(grand prize) = ________?