Two Boys Held Up a Liquor Store at Gunpoint and Ran

question 24

Multiple Choice

Two boys held up a liquor store at gunpoint and ran off with a bag of money. The police saw them run into Jill's apartment building where there are only four apartments off a common hall and no apparent way out of the building but the front door. The police knock on Jill's door. She says she's the only one there. The police can:

• A) search the apartment without a warrant because Jill voluntarily answered the door.
• B) search the apartment without a warrant because they are in hot pursuit of the thieves.
• C) not search the apartment, because they have no reason to believe that the boys are in Jill's apartment rather than the others.
• D) not search the apartment because voluntary consent to enter is necessary.

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Definitions:

Desired Rate of Return

The minimum percentage return an investor expects to achieve by investing in a particular asset.

Present Value

The value today of a sum of money or cash flows expected in the future, discounted at a particular rate of return.

Compound Interest

Interest calculated not only on the original principal amount but also on the accrued interest from past periods on a deposit or loan.

Earnings Rate

Earnings rate refers to the percentage of return generated by an investment or the profitability of a company over a specified period.