Using the Table in the Handbook, the Present Value of $12,000

question 69

Multiple Choice

Using the table in the handbook, the present value of $12,000 for six years compounded at 6% semiannually is:

• A)$12,814.08
• B)$8,461.08
• C)$8,416.80
• D)$8,614.80
• E)None of these

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Definitions:

Consequential Damages

Damages that arise not directly from a breach of contract but as a foreseeable result of the breach, such as lost profits or additional operational costs.

Prima Facie

A term from Latin meaning "on its face" or "at first sight"; in legal contexts, it refers to evidence that, unless rebutted, would be sufficient to prove a particular proposition or fact.

Consumer Goods

Items that are bought for personal or household use rather than for manufacturing or reselling purposes.

Liquidated Damages

A predetermined amount of money that must be paid as compensation for failure to fulfill a contractual obligation.