What Amount of Cash Would Result at the End of One

question 46

Multiple Choice

What amount of cash would result at the end of one year,if $15,000 is invested today and the rate of return is 8%?

• A) $16,200
• B) $13,889
• C) $15,000
• D) $1,200

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Definitions:

Waiver

The voluntary relinquishment or surrender of a known right, claim, or privilege, often documented in written form.

Estoppel

A legal principle preventing someone from arguing something contrary to an earlier stance if it would harm another person who relied on the initial position.

Refuse

To decline to accept, submit to, or do something.

Bailments

The temporary handover of control or possession of personal property by one party, the bailor, to another, the bailee, for a specific purpose.