The price of a U.S. stamp is $0.44. That price is expected to rise by 4.5% in January. What will be the price of a U.S. stamp come January? Round the answer to the nearest cent.
$0.46
To find the price of a U.S. stamp in January, we need to calculate a 4.5% increase from the current price of $0.44.
Step 1: Begin by calculating 4.5% of $0.44.
To calculate a percentage, multiply the given number by the percentage expressed as a decimal.
4.5% as a decimal is 0.045, so we need to multiply $0.44 by 0.045:
$0.44 x 0.045 = $0.0198
Step 2: Add the result from Step 1 to the current price.
$0.44 + $0.0198 = $0.4598
Step 3: Round the answer to the nearest cent.
Since we are asked to round the answer to the nearest cent, we round $0.4598 to $0.46.
Therefore, the price of a U.S. stamp in January is expected to be $0.46.