You are researching the price of MP3 players. You found an average price of $58.80. One MP3 player cost $56 and another cost $62. Find the price of the third MP3 player.

3 * 58 = 174

174 - (56 + 62) = ?

To find the price of the third MP3 player, we can use the average price and the prices of the other two MP3 players.

Let's assign variables to the prices of the MP3 players:
- Let's call the price of the first MP3 player x.
- Let's call the price of the second MP3 player y.
- Let's call the price of the third MP3 player z.

According to the information given, we know that:
x = $56 (the price of the first MP3 player)
y = $62 (the price of the second MP3 player)
The average price = $58.80

We can use this information to set up an equation to solve for z:
(x + y + z) / 3 (since we have three MP3 players) = average price

Therefore,
(56 + 62 + z) / 3 = 58.80

To solve this equation and find the price of the third MP3 player, we can rearrange the equation:
56 + 62 + z = 58.80 * 3
118 + z = 176.40
z = 176.40 - 118
z ≈ $58.40

So, the price of the third MP3 player is approximately $58.40.