Question

The cost of a certain brand of camera has been increasing at 8% per year. If a camera now costs $150, what is the cost?

Answer 1

x*(1 + 0.08)^n = 150;

if n = 1 => x = 150/1.08 => x = 138.88 $;
if n = 2 => x = 150/ 1.16 => x = 129.31 $;