Use the Table to Solve the Problem

question 30

Multiple Choice

Use the table to solve the problem. Round to the nearest cent.
-Lexi can invest $7,330 for 3 years at 8% compounded quarterly. Find the future value.

• A)$92,336,743.00
• B)$9,089.20
• C)$9,296.20
• D)$184,581,861.00

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Definitions:

Monopolist

A monopolist is a sole provider of a good or service in a market, having the power to influence the price and quantity of the product.

Output Price

The price at which a product or service is sold in the market.

Monopolist

A single seller in a market with no close substitutes for the product, giving the seller market power.

Marginal Revenue Product

The increase in revenue a firm expects from employing one additional unit of a resource, such as labor.