Friday

January 30, 2015

January 30, 2015

Posted by **Daniel** on Tuesday, April 2, 2013 at 12:04am.

This is worth 5 marks and need some help answering it clearly and precisely. I was gonna use supply/demand but i don't know if that would work.

-Dan

- math -
**Wayne**, Tuesday, April 2, 2013 at 4:35pmToday it costs $54 to fill tank. In one year (per cent increase problem):

(x - 54)/54 = .025, so x = $55.35

in the next year:

(x - $55.35)/$55.35 = .025, so x = $56.73

Do this 8 more times, and you will get your answer: $69.12

I used an Excel worksheet to generate the answer. Not sure if there's a formula to solve this or not.

- math -
**Wayne**, Tuesday, April 2, 2013 at 4:40pmThere is a formula, called the standard future value formula:

54 * (1 + .025)^10 = future value = $69.12

**Answer this Question**

**Related Questions**

math - Confused! So here is the question: Inflation is currently causing the ...

Word Problems - I have two questions: Inflation is currently causing the cost of...

math - A college student wishes to compare tuition fee increases during the ...

algebra 2 - When inflation causes the price of an item to increase the new cost ...

FINANCIAL MATHEMATICS - The variable costs associated with a certain process ...

Algebra 1 - a honda civic cost $17,655. A toyota corolla cost about 15,900. Fuel...

Adv. Math - In January, gasoline cost $1.05 per gallon. In July, gasoline cost $...

marketing - QUESTION #1 cost analysis with graph office copier has an initial ...

math - A student uses approximately 40 to 45 gallons of gasoline per month. The ...

Adv. Math - Can someone else explain it but more easier for an 8th grader ...