Question

A loaf of bread that originally sold for $1.87 undergoes a 5% price increase each year. Find the new cost of a loaf of bread after 12 years.

Answer 1

$2.99

Explanation:

find 5% of $1.87 by multiplying 1.87 by 0.05. to get 0.0935. then multiply 0.0935 by 12 to get 1.122. round that to 1.12 and add it to the original 1.87 to get 2.99.