A store owner decides to increase the price of a cat carrier by 7%. If the current price of the carrier is $53.00, what is the price after the increase? (1 point)
$60.00
$53.07
$56.71
$90.10
$56.71
To calculate the price after a 7% increase, you can use the following formula:
New Price = Current Price + (Current Price × Increase Percentage)
Plugging in the values given in the question:
New Price = $53.00 + ($53.00 × 0.07)
Calculating this:
New Price = $53.00 + ($3.71)
Simplifying:
New Price = $56.71
Therefore, the price after the increase will be $56.71.