Answer:
55
Step-by-step explanation:
So lets take our 50 dollars.
Next, take your increase of 5%. Remember, 5% is 0.05, and it is a increase of 5%, so we are multipling 50 by 1.05.
Before we start multiplying, lets recall that this occurs twice(2 years), but this doesnt mean we multiply 50 by 1.10. No, we just mutiply 50 by 1.05 2 times:
50*1.05
=
52.5
52.5*1.05
=
55.25
So your answer is 55 dollars(rounding down).
Hope this helps!
