Question

The average cost of a movie ticket is $7.50. If this price increases annually by 7 percent, how much would a movie ticket cost in 9 years?

Answer 1

$13.79

Explanation:

FV = PV(1+r/100)^9

A =7.50 (1+ [7/100]) ^9

A = $13.79 per ticket

Answer 2

Answer: After 9 years, the ticket will be $13.79