Find the Present Value

question 428

Multiple Choice

Find the present value. Round to the nearest cent.
-To get $10,000 after 3 years at 6% compounded monthly

• A) $10,616.78
• B) $8,356.45
• C) $3,333.33
• D) $9,419.05

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Definitions:

White-Collar Crime

A variety of nonviolent illegal acts against society that occur most frequently in the business context.

Nonviolent Illegal Acts

Activities that break the law but do not involve the use of physical force or violence.

Felony

A serious crime that is punishable by more than one year in prison, as opposed to a misdemeanor, which is less severe.

Imprisonment

The act of confining someone in a prison or similar facility as punishment for a crime or legal offense.