The Government Imposed a Fine on a Firm That Requires

Multiple Choice

The government imposed a fine on a firm that requires a payment of $100,000 today,$150,000 one year from today,and $200,000 two years from today.The government will hold the funds until the final payment is collected and then donate the entire amount to charity.How much will be donated if the government pays 3 percent interest on the held funds?

A) $475,000
B) $460,590
C) $447,174
D) $451,050
E) $474,407