Solve the Problem $\mathrm { P } ( \mathrm { x } ) = 0.35 \mathrm { x } - 74$

question 90

Multiple Choice

Solve the problem.
-The function $\mathrm { P } ( \mathrm { x } ) = 0.35 \mathrm { x } - 74$ models the relationship between the number of pretzels $x$ that a certain vendor sells and the profit the vendor makes. Find $\mathrm { P } ( 1000 )$ , the profit the vendor makes from selling 1000 pretzels.

• A) \(\$ 926\)
• B) \(\$ 424\)
• C) \(\$ 350\)
• D) \(\$ 276\)

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Definitions:

Market Interest Rate

The prevailing rate of interest available in the marketplace on debts of similar risk and maturity.

Contractual Interest Rate

The interest rate explicitly stated in a loan agreement or bond indenture that the borrower must pay to the lender.

Sale of Bonds

The process of issuing bonds to investors as a form of borrowing money with the promise to pay back with interest.

Face Value

The nominal value of a security or financial instrument as stated by the issuer, which may differ from its market value.