Find the amount necessary to fund the given withdrawals. Semiannual withdrawals of 850 for 6 years,interest rate is 4.7% compounded semiannually.

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amber3687

11.05.2020

Mathematics

a) $x=\dfrac{\text{Total amount}}{\text{Number of tickets}}\\\\x=\dfrac{930.75}{25}$

b) $37.23

Step-by-step explanation:

Since we have given that

Total amount raised by a theatre company = $930.75

Number of floor seat tickets = 25

We need to find the equation with a variable that can be solved to correctly find the price of each ticket.

Let the price of each ticket be 'x'.

so, Part A becomes,

$x=\dfrac{\text{Total amount}}{\text{Number of tickets}}\\\\x=\dfrac{930.75}{25}$

Part B:

Value of x be

$x=\dfrac{930.75}{25}=\$37.23$

Hence, a) $x=\dfrac{\text{Total amount}}{\text{Number of tickets}}\\\\x=\dfrac{930.75}{25}$

b) $37.23

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