You are serving on a jury. A plaintiff is suing the city for injuries sustained

Question

You are serving on a jury. A plaintiff is suing the city for injuries sustained after a freak street sweeper accident. In the trial, doctors testified that it will be five years before the plaintiff is able to return to work. The jury has already decided in favor of the plaintiff. You are the foreperson of the jury and propose that the jury give the plaintiff an award to cover the following: (a) The present value of two years

You are serving on a jury. A plaintiff is suing the city for injuries sustained after a freak street sweeper accident. In the trial, doctors testified that it will be five years before the plaintiff is able to return to work. The jury has already decided in favor of the plaintiff. You are the foreperson of the jury and propose that the jury give the plaintiff an award to cover the following: (a) The present value of two years

Explanation / Answer

Particular Year Amount PV/FV@7% 2years back Pay -2 31000 35492 -1 34000 36380 Future Salary 1 38000 35514 2 38000 33191 3 38000 31019 4 38000 28990 5 38000 27093 Pain and suffering 0 100000 100000 Court Costs 0 10000 10000 Total settlement Amount 337679 FV=A*(1+0.07)^n, where n=no of years PV=A/(1_0.07)^n,where n=no of years

Related Questions

Navigate

• Browse (All)
• Browse Y
• Subjects

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.