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On January 1, 1999, the price of gasoline was $1.39 per gallon. If the price of gasoline increased by 5% per year, what was the cost of one gallon of gasoline, to the nearest cent, 4 years later?

1 Answer

4 votes
1.39 x .05 =.07
1.39 + .07 = 1.46
1.46 +.07 = 1.53
1.53 + .08 = 1.61
1.61 + .08 = 1.69
$1.69 after 4 years.
User Itzik Shachar
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