Miller's Hardware Plans on Saving $42,000,$54,000,and $58,000 at the End

question 90

Multiple Choice

Miller's Hardware plans on saving $42,000,$54,000,and $58,000 at the end of each year for the next three years,respectively.How much will the firm have saved at the end of the three years if it can earn 4.5% on its savings?

• A) $160,295.05
• B) $158,098.15
• C) $167,508.33
• D) $165,212.57

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Definitions:

Undisclosed Principal

In agency law, a principal whom a third party lacks knowledge or the reason to know the principal’s existence and identity.

Unidentified Principal

In agency law, a principal whom a third party knows or has reason to know exists but who lacks knowledge or reason to know the principal’s identity.

Legally Non-Existent

Refers to an entity or agreement that has no recognition or validity under the law.

Respondeat Superior

A legal doctrine holding an employer or principal legally responsible for the wrongful acts of an employee or agent, when such acts occur within the scope of employment or agency.