The Present Value of $100 in One Year Is $86

question 83

True/False

The present value of $100 in one year is $86.96 when the interest rate is 15%.

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Definitions:

Theory Of Liability

The legal concept or basis upon which a party can be held accountable for a wrong or damage in a lawsuit.

Restatement (Third) Of Torts

A compilation by legal scholars summarizing the common law of torts in the United States, aiming to clarify principles and rules.

Strict Liability

A legal doctrine that holds an individual or entity responsible for their actions or products, regardless of fault or intent, particularly in cases of harm or damage.

Manufacturing Defect

A flaw or defect in a product that arises from a mistake in the manufacturing process, rendering it unsafe or unfit for its intended use.