Three years ago the average price of a movie ticket was $8.75 and now it is $11.00. What was the annual multiplier and the percent increase

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asked Dec 22, 2019 191k views

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Spamdark · Answer 1 · 2019-12-28T11:17:07+0000

Given:
Price of tickets:
3 years ago - 8.75
now - 11

annual multiplier:

b³ = 11/8.75
b = ∛11/8.75
b = 1.079

The annual multiplier is 1.079.

1.079 * 100% = 107.9%

107.9% - 100% = 7.9%

The percentage increase is 7.9%

Three years ago the average price of a movie ticket was $8.75 and now it is $11.00. What was the annual multiplier and the percent increase

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