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The Present Value of Any Future Sum of Money Is

question 191

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The present value of any future sum of money is the amount that would be needed today, at current interest rates, to produce that future sum.


Definitions:

Lex Talionis

A principle of retributive justice meaning "the law of retaliation", where the punishment corresponds directly to the offense, as in "an eye for an eye".

Theory of Punishment

A set of principles that aim to justify and guide the imposition of penalties on individuals who violate laws, focusing on deterrence, retribution, rehabilitation, and restoration.

Retribution

A principle of justice that prescribes punishment for an offense should be proportionate to the severity of the crime committed.

Retributivist

A theory of punishment that justifies penalizing wrongdoers on the basis that they deserve punishment commensurate with the harm they have caused.

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