Question
A company set aside $200,000 for possible losses from lawsuits over a defective product in a contingency fund. The lawsuits are not expected to be
A company set aside $200,000 for possible losses from lawsuits over a defective product in a contingency fund. The lawsuits are not expected to be settled for 6 years. Assuming an 8% interest rate, what will be the balance of the contingency fund at the end of the 6 years?
| A. | $1,467,184 | |
| B. | $296,000 | |
| C. | $317,374 | |
| D. | $924,576 |
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Peace Love Auditing Journal
Authors: Epic Love Books
1st Edition
1697161693, 978-1697161694
