If the Annual Interest Rate Is 5%,the Present Value of $100

question 19

Multiple Choice

If the annual interest rate is 5%,the present value of $100 to be received two years from now is

• A)$87.70.
• B)$90.70.
• C)$95.23.
• D)$97.00.
• E)$110.00.

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Definitions:

Billable Hours

The hours that legal professionals charge their clients for, typically reflecting work done on a case.

Legal Professionals

Individuals who work in the legal field, including lawyers, judges, paralegals, and legal assistants, among others.

Billing Rates

The amount of money charged per unit of time by professionals, such as lawyers, for their services.

Paralegals

Legal assistants who perform various tasks to support lawyers, such as conducting legal research and drafting documents.