Narrative 11-1 Solve the Following Problems Using Either Tables 11-1 or 11-2

question 113

Multiple Choice

Narrative 11-1
Solve the following problems using either Tables 11-1 or 11-2 from your text. When necessary, create new table factors. (Round new table factors to five decimal places, round dollars to the nearest cent and percents to the nearest hundredth of a percent)
-Refer to Narrative in your text 11-1. Ben invests $19,500, at 12% interest, compounded quarterly for 10 years. Calculate the compound amount for his investment.

• A) $73,369.46
• B) $71,214.36
• C) $68,305.89
• D) $63,609.59

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Definitions:

Mark-up

A financial addition to the product's cost to cater to company overheads and profit gain.

Wholesaler

An individual or entity that buys goods in large quantities from producers to resell them to retailers or directly to customers, but typically not to the final consumer.

Selling Price

The amount of money a buyer pays to acquire a product or service from a seller.

Trade Discount

A reduction in the listed price of a product or service, offered by sellers to buyers in the same trade.