Answer:
$175.59
Step-by-step explanation:
If the average rate of inflation was 3.2% per year, we can say that each year the cost of the cart increase by 3.2%, so the cost in 2011 was:
$150 + $150(0.032)
= $150(1 + 0.032)
= $150(1.032)
= $154.8
Because $150 was the cost in 2010 and 3.2% is equal to 0.032. Then, the cost in 2012 was:
$154.8 + $154.8(0.032)
= $154.8(1 + 0.032)
= $154.8(1.032)
= $159.75
In the same way, the cost in 2013, 2014 and 2015 will be:
In 2013: $159.75(1.032) = $164.87
In 2014: $164.87(1.032) = $170.14
In 2015: $170.14(1.032) = $175.59
Therefore, the cost in 2015 will be $175.59