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26-03-2021
Mathematics

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PLEASE HELP ASAP!
Write an explicit process for the situation below, then answer the question.

Due to inflation, the cost of a particular good is expected to increase by 2 percent per year. If the good currently costs $50, how much will it cost in 5 years?
Round your answer to the nearest cent.

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26-03-2021

Answer:

[tex]y=50*1.02^x[/tex]

Step-by-step explanation:

x is years after the current year and y is the cost

in 5 years it'll be $55.20

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