Hector paid $105 for 6 tickets to a hockey game. Each ticket cost the same amount. What was the cost of each ticket in dollars a
2 answers:
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Answer: $107,836.69 or about $107,837 (to the nearest dollar)
Step-by-step explanation:
Formula to the accumulated amount received after investing principal amount (P) at rate of interest (r) compounded monthly for t months :
As per given , A = $130,000
r= 7.5% = 0.075
t= 30 months
Now,
Hence he need to invest $107,836.69 .