The youth group is going on a trip to the state fair. The trip costs $62. Included in that price is $14 for a concert ticket and the cost of 2 passes, one for the rides and one for the game booths. Each of the passes costs the same price. Write an equation representing the cost of the trip, and determine the price of one pass. Solve your equation by showing your work and steps.

Step-by-step explanation:

62-14=48

62 is the total cost and if you minus $14 you will be left with $48 which will be the cost of the two passes

48/2=24.

48 is the cost of the two passes and you want to divide this by 2 to find the cost of one pass.

so, one pass equals $24

required rate of return = 0.166 = 16.6%

step-by-step explanation:

under the capital asset pricing model (capm), the required or expected rate of return for a particular security or asset is given using the formula:

required rate of return = risk-free rate + beta*(market risk premium)

we are given that;

risk-free rate = 4% = 0.04

beta = 1.4

market risk premium = 9% = 0.09

we simply plug these values into the above formula;

required rate of return = 0.04 + 1.4*(0.09)

required rate of return = 0.04 + 0.126

required rate of return = 0.166 = 16.6%