Assignment:
The star youth soccer club helps to support its 20 boys and girls teams financially, primarily through the payment of coaches. The club puts on a tournament each fall to help pay its expenses. The cost of putting on the tournament is $8,000 mainly for development, printing and mailing the tournament brochures. The tournament entry fee is $400 per team. For every team that enters it costs the club about $75 to pay referees for the three-game minimum each team is guaranteed. If the club needs $60,000 from the tournament, how many teams should it invite?
Provide complete and step by step solution for the question and show calculations and use formulas.