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A company has introduced two new products to the market. The revenue generated by product A was $63,000 in the first year, and the revenue increases by 3.5% every year. The revenue generated by produc
A company has introduced two new products to the market. The revenue generated by product A was $63,000 in the first year, and the revenue increases by 3.5% every year.
The revenue generated by product B was $81,000 in the first year, and the revenue increases by 2.1% every year.
Which function can the company use to determine its total revenue from the two products, R(x), after they have been on the market for x years, and approximately what will be the revenue generated by sales of the products after 6 years?
R(x) = 9,000[7(1.035)x + 9(1.021)x]; $635,580
R(x) = 9,000[7(1.035)x + 9(1.021)x]; $169,200
R(x) = 9,000[9(1.035)x + 7(1.021)x]; $170,936
R(x) = 9,000[9(1.035)x + 7(1.021)x]; $688,050