(Solution) 12) A Brilliant Young Scientist Is Killed In A Plane Crash. It Is Anticipated That He Could Have Earned $340,000 A Year For The Next 20 Years. | Snapessays.com


(Solution) 12) A brilliant young scientist is killed in a plane crash. It is anticipated that he could have earned $340,000 a year for the next 20 years.


12) A brilliant young scientist is killed in a plane crash. It is anticipated that he could have earned $340,000 a year for the next 20 years. The attorney for the plaintiff’s estate argues that the lost income should be discounted back to the present at 7 percent. The lawyer for the defendant’s insurance company argues for a discount rate of 14 percent.   What is the difference between the present value of the settlement at 7 percent and 14 percent? Compute each one separately. Use Appendix D for an approximate answer but calculate your final answer using the formula and financial calculator methods. (Do not round intermediate calculations. Round your answers to 2 decimal places.)    Present Value   PV at 7% rate $      PV at 14% rate          Difference $     

 


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This question was answered on: May 23, 2022

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