Use an Equation to Solve the Problem

question 59

Multiple Choice

Use an equation to solve the problem. A wholesale price for each compact disc is $14 and each has a markup of $0.70. Find the retail price of 40 CDs.

• A) $532.00
• B) $588.00
• C) $560.00
• D) $28.00
• E) $392.00

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Definitions:

Savings Account

A deposit account held at a bank or financial institution that offers interest earnings and the safety of the deposited funds.

Consol

A type of perpetuity.

Future Values

The value of an asset or amount of money at a specified date in the future that is equivalent in value to a specified sum today.

Present Values

The process of determining the present worth of an amount or series of cash flows that will be received or paid in the future, using a specific discount rate.