You Have $3500 That You Invest at 7% Simple Interest

question 20

Multiple Choice

You have $3500 that you invest at 7% simple interest. How long will it take for your balance to reach $4235?

• A) two years
• B) three years
• C) four years
• D) five years

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Definitions:

Marginal Revenue Product

The additional revenue generated from employing one more unit of a resource.

Imperfectly Competitive

A market structure where not all firms have negligible influence on market prices due to differentiations in products, number of firms, or barriers to entry.

Marginal Products

The additional output that is produced by using one more unit of a particular input, while keeping other inputs constant.