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the increased demand for vegetarian meals has caused an increased in the price of tufo. If the current cost of $2.99 per pound is increasing 6% per year what will it cost in 5 years

Sagot :

JacobtheGreat
For this, you could use the formula for compound interest. Or just add 6% on each year. I can't remember the formula off the top of my head, so I'm going to do it manually.

[tex]2.99*1.06= 3.17 \\ 3.17*1.06=3.36 \\ 3.36*1.06=3.56 \\ 3.56*1.06=3.77 \\ 3.77*1.06=4.00[/tex]

Your final answer is $4.00
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