You Want to Open a Sushi Bar 3 Years from Now

question 76

Multiple Choice

You want to open a sushi bar 3 years from now, and you plan to save $7, 000 per year, beginning immediately.You will make 3 deposits in an account that pays 5.2% interest.Under these assumptions, how much will you have 3 years from today?

• A) $20, 993
• B) $22, 098
• C) $23, 261
• D) $24, 424
• E) $25, 645

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Definitions:

Oligopoly

A market structure in which a small number of firms dominate the market, leading to limited competition and possibly higher prices for consumers.

Market Power

The ability of a firm or group of firms to influence or control prices and total market output.

Restrict Advertising

The imposition of limitations on the timing, nature, or content of commercial advertising.

Economic Incentives

Motivations or rewards intended to encourage particular economic behaviors among individuals or organizations.