A Single Amount of $10,500 Is to Be Received in 3

question 21

Multiple Choice

A single amount of $10,500 is to be received in 3 years.If the single amount is discounted at 8% for 3 periods,the present value is ________.The present value of $1 for 3 periods at 8% is 0.794.The present value of an ordinary annuity of $1 for 3 periods at 8% is 2.577.(Round your final answer to the nearest dollar. )

• A)$8,316
• B)$10,500
• C)$8,337
• D)$27,059

---

Definitions:

Parens Patriae

The common law principle that recognizes the duty of the monarch or the state to care for citizens who are unable to care for themselves.

Quebec

A province in eastern Canada known for its French heritage, culture, and language.

Not Criminally Responsible

A legal defense asserting that at the time of committing a criminal act, a person was suffering from a mental disorder that rendered them incapable of appreciating the nature and quality of the act or knowing that it was wrong.

Criminal Law

The body of law that pertains to crime and punishment, dealing with acts considered harmful or threatening to a society's welfare.