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?

Question 5 options:

A)

$13.79 per ticket

B)

$12.55 per ticket

C)

$10.99 per ticket

D)

$11.21 per ticket

Question

Louis Hernandez

Mathematics

3 August, 02:59

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?

Question 5 options:

A)

$13.79 per ticket

B)

$12.55 per ticket

C)

$10.99 per ticket

D)

$11.21 per ticket

+4

Answers (1)

Know the Answer?

Chelsea Poole · Answer 1

A) $13.79 per ticket

Step-by-step explanation:

Hi, to answer this question we have to apply an exponential increase function:

A = P (1 + r) t

Where:

p = original price

r = increase rate (decimal form)

t = years

A = price after t years

Replacing with the values given:

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

A = $13.79 per ticket

Feel free to ask for more if needed or if you did not understand something.

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?Question 5 options:A)$13.79 per ticketB)$12.55 per ticketC)$10.99 per ticketD)$11.21 per ticket

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?

Question 5 options:

A)

$13.79 per ticket

B)

$12.55 per ticket

C)

$10.99 per ticket

D)

$11.21 per ticket