The Government Imposed a Fine on the Not-So-Legal Company

question 9

Multiple Choice

The government imposed a fine on the Not-So-Legal Company. The fine calls for a payment of $100,000 today, $150,000 one year from today, and $200,000 two years from today. The government will hold the funds until the final payment is collected and then donate the entire amount to charity. The government has agreed to pay annual interest of 3 percent on the held funds. How much will be donated to charity in two years?

• A) $475,000.00
• B) $460,590.00
• C) $447,174.76
• D) $451,050.05
• E) $474,407.70

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Definitions:

American Children

The youth population within the United States of America, encompassing individuals from birth through adolescence under various social, cultural, and legal considerations.

Food Stamps

A government assistance program providing low-income households with coupons or electronic benefits to buy food.

World

The earth and all life on it, including human civilization and the natural environment; often used in a global context to discuss issues affecting the planet and its inhabitants.

Day

A unit of time equal to 24 hours, representing the period it takes for the Earth to complete one full rotation on its axis.