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Molodets [167]
3 years ago
7

Last year 190 student attended the spring dance and the total cost was 1250. Two years ago 175 people attended and the total cos

t was 1175. Determined the FIXED COST, COST OF A TICKET. If 225 people attend this years dance, what would be the total cost?
Mathematics
1 answer:
kondor19780726 [428]3 years ago
6 0
Unit cost of a ticket = Income from ticket sales / number of tickets sold:

$1250
--------------- = $6.58 per ticket
190 tickets

Again:

$1175
--------------- = $6.71
175 tickets

While ticket prices do change (usually increase) from year to year, it's unusual to see such a situation here.

Don't have any guidelines by which to determine the "fixed cost of a ticket".

If we use the cost of a ticket of 2 years ago ($6.58/ticket), then the income from the sale of 225 tickets this year would be ($6.58/ticket)(225 tickets), or $1480.50.
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A gold mine is projected to produce $52,000 during its first year of operation, $50,000 the second year, $48,000 the third year,
marshall27 [118]

Answer:

its present worth is nearest to 483,566

Option d) 483,566 is the correct answer

Step-by-step explanation:

Given that;

gold mine is projected to produce $52,000 during its first year

produce $50,000 the second year

produce $48,000 the third year

the mine is expected to produce for 20yrs; i.e n = 20

annual interest rate = 4% = 0.04%

now let P represent the present worth

we determine the present worth ;

Present worth ⇒ Cashflow(Uniform series present worth) - (2000)(uniform gradient present worth)

⇒Cashflow(P | A,i%,n) - (2000)(P | G,i%,n)

= 52000[ ((1+i)ⁿ - 1) / (i(1+i)ⁿ) ] - (2000)[ {((1+i)ⁿ - 1) / (i²(1+i)ⁿ))} - (n/i(1 + i)ⁿ) ]

= 52000[ ((1+0.04)²⁰ - 1) / (0.04(1+0.04)²⁰) ] - (2000)[ {((1+0.04)20 - 1) / ((0.04)²(1+0.04)²⁰))} - (20/0.04(1 + 0.04)²⁰) ]

= 52000[ ((1.04)²⁰ - 1) / (0.04(1.04)²⁰) ] - (2000)[ {((1.04)²⁰ - 1) / ((0.04)²(1.04)²⁰))} - (20/0.04(1.04)²⁰) ]

= 52000[ ((2.191123 - 1) / (0.04(2.191123) ] - (2000)[ {((2.191123 - 1) / ((0.0016)(2.191123))} - (20/0.04(2.191123) ]

= 52000(1.191123/0.08764) - (2000){( 1.191123/0.003506) - (20/0.87645)}

= 52000(13.59033) - (2000)(339.7582 - 228.1935)

= 52000(13.59033) - (2000)(111.5647)

= 706695.6 - 223129.4

= 483,566.2 ≈ 483,566

Therefore its present worth is nearest to 483,566

Option d) 483,566 is the correct answer

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