Question

A candy bar that originally sold for $0.65 undergoes a 7% price increase each year. Find the new cost of the candy bar after 15 years. Round your answer to the nearest cent.
The new cost of the candy bar after 15 years is $
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Answer 1

Answer:

10.4325

Step-by-step explanation:

For 1 year:   (0.65) + (0.65)(0.07) = 0.6955

For 15 years: 0.6955 X 15 = 10.4325

All together: (0.65+(0.65*0.07))*15 = 10.4325