Question

1 point Gas prices are projected to increase 50% by April 2021. A gallon of gas currently costs $1.75. What is the projected cost of a gallon of gas for April 2021? * O $2.62 $2.63 $3.25 O $3.50

Answer 1

April 2021

Rate of increase 50%

Gas current cost A = $1.75

There are 4 months to April 2021

So then n = 4 in equation

P = A •( 1+ 50/100)^4

Then now

find 50% ,of $1.75 = 0.875

Add $1.75 + $0.875 = $2.625

THEN ,right answer is OPTION A) $2.62