Sorry just commenting for something
Answer: he should invest $16129 today.
Step-by-step explanation:
Let $P represent the initial amount that should be invested today. It means that principal,
P = $P
It would be compounded annually. This means that it would be compounded once in a year. So
n = 1
The rate at which the principal would be compounded is 7.6%. So
r = 7.6/100 = 0.076
The duration of the investment would be 6 years. So
t = 6
The formula for compound interest is
A = P(1+r/n)^nt
A = total amount in the account at the end of t years.
A = 25000
Therefore
25000 = P(1+0.076/1)^1×6
25000 = P(1.076)^6
25000 = 1.55P
P = 25000/1.55
P = $16129
X-2 or 5-2 because 2 fewer you would need to subtract two from the amount you ate
The price of one ticket is $ 62.2
<h3><u>Solution:</u></h3>
Given that a performer expects to sell 5000 tickets for an upcoming event
They want to make a total of $ 311, 000 in sales from these tickets
<em><u>To find: price of one ticket</u></em>
Let us assume that all tickets have the same price
Let "a" be the price of one ticket
So the total sales price of $ 311, 000 is obtained from product of 5000 tickets and price of one ticket


Thus the price of one ticket is $ 62.2
Answer:

Step-by-step explanation:
So we have the equation:

Combine like terms:

Add:

Add 16 to both sides:

Divide both sides by 8:

So, our answer is 24.5 :)