Question

Suppose that a bag of chicken breast originally cost $11.78 and the price goes up by 4% each year. Find the cost after 4 years

Answer 1

The cost of the chicken breast after 4 years will be $13.77.

Step-by-step explanation:

To find the cost of the chicken breast after 4 years, we need to calculate the price increase at each year. The price increases by 4% each year, so we can use the formula:

New cost = Initial cost * (1 + 0.04)^n

where n is the number of years. Plugging in the values, we get:

New cost = $11.78 * (1 + 0.04)^4 = $11.78 * 1.04^4 = $11.78 * 1.16985856 = $13.77

Therefore, the cost of the chicken breast after 4 years will be $13.77.