The applicable formula is
A = P(r/12)/(1 -(1+r/12)^(-12n))
where P is the principal amount,
r is the annual interest rate (compounded monthly), and
n is the number of years.
Using the formula, we find
A = 84,400*(0.04884/12)/(1 -(1+0.04884/12)^(-12*15))
= 84,400*0.00407/(1 -1.00407^-180)
= 343.508/0.518627
≈ 662.34
The monthly payment on a mortgage of $84,400 for 15 years at 4.884% will be
$662.34
We assume all money is spent on new lighting. Since they currently have $160 and need $400 we can subtract what they currently have from what they need.
$400-$160 = $240
Since we know the price of the ticket and now know they need $240 we can divide our $240 with the price of each ticket ($3)
$240/$3 = 80
So the drama club has to sell 80 more tickets in order to afford new lighting
I think it is B is ur answer
