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?

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asked Aug 18, 2021 156k views

1 vote

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?

Mathematics
middle-school

Aleya asked

by Aleya

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2 Answers

4 votes

Answer:

$13.79

Explanation:

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

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

A = $13.79 per ticket

Yurii Kuzemko answered Aug 19, 2021

by Yurii Kuzemko

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5 votes

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

Basilio German answered Aug 24, 2021

by Basilio German

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