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Answer: the future value is $3788.75
Step-by-step explanation:
The formula for determining simple interest is expressed as
I = PRT/100
Where
I represents interest paid on the amount invested.
P represents the principal or amount invested.
R represents interest rate
T represents the duration of the investment in years.
From the information given,
P = 3500
R = 5.5
T = 18 months = 18/12 = 1.5 years
I = (3500 × 5.5 × 1.5)/100 = 28875/100
I = 288.75
the future value would be
3500 + 288.75 = $3788.75
Answer:
168 adult tickets were sold
Step-by-step explanation:
Multiply the amount of students by the cost of the student ticket (82 times 3.75) which equals 307.5 . Subtract that from the total amount earned (2071.5) and you get 1764. Divide that by the cost of an adult ticket (10.50), and you'll get the amount of adults who attended, which is 168.
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