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Jennifer was awarded damages of $150,000 in a successful lawsuit she brought against her employer 4 years ago. Simple interest on the judgment accrues at the rate of 15%/year from the date of filing. If the case were settled today, how much would Jennifer receive in the final judgment?

Respuesta :

toporc
The annual interest is $150,000 x 0.15 = $22,500. The accrued interest after 4 years is $90,000. Therefore in the final judgement Jennifer would be awarded:
150,000 + 90,000=240,000.
The answer is $240,000.
Parrain

If the case was settled today and the interest accrued was added, Jennifer would get a final amount of $240,000.

The amount would have increased by 15% simple interest per year which is:

= 150,000 x 15%

= $22,500

In 4 years, this is:

= 22,500 x 4

= $90,000

The total amount would therefore be:

= 150,000 + 90,000

= $240,000

In conclusion, Jennifer would receive $240,000.

Find out more at https://brainly.com/question/20831630.

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