Question

A local elementary is applying for a four-year grant to provide an afterschool science program. The amounts budgeted for different items for the first year of a grant are shown below. The grant writer wants to increase all the amounts by 4% for Year 2, by 2.5% for Year 3, and by another 2% for Year 4. Complete the table to show the calculated amounts.

Answer 1

Given that the grant writer wants to increase all the amounts by 4% for Year 2, by 2.5% for Year 3, and by another 2% for Year 4, you can convert each percent to a decimal number by dividing them by 100:

`4\text{ \%}=(4)/(100)=0.04`

`2.5\text{ \%}=(2.5)/(100)=0.025`

`2\text{ \%}=(2)/(100)=0.02`

• You know that in Year 1, the amount of money budgeted for Salaries and benefits is $115,000. Therefore:

- In Year 2 it will be (in dollars):

`115,000+(115,000)(0.04)=119,600`

- In Year 3:

`119,600+(119,600)(0.025)=122,590`

- In Year 4:

`122,590+(0.02)(122,590)\approx125,042`

• Apply the same procedure for Insurances, knowing that, for Year 1 the budget is $14,500:

- In Year 2:

`14,500+(14,500)(0.04)=15,080`

- In Year 3:

`15,080+(15,080)(0.025)=15,457`

- In Year 4:

`15,457+(0.02)(15,457)\approx15,766`

• For Resources and Supplies, you get:

- In Year 2:

`5,500+(5,500)(0.04)=5720`

- In Year 3:

`5,720+(5,720)(0.025)=5,863`

- In Year 4:

`5,863+(0.02)(5,863)\approx5,980`

Hence, the answer is: