Question

griswolds spent 3000 on clothes in 2017. if they increase the amount thye spend on clothes by 5% each year. how much money will they spend on clothing theough the year 2020

Answer 1

3472.875

Explanation:

5% of 3000 is 150, therefore he spent 3150 in 2018.

5% of 3150 is 157.50 therefore he spent 3307.50 in 2019

5% of 3307.50 is 165.375 therefore he spent 3472,875 in 2020

Answer 2

$3,307.5

Explanation:

It's 3000*1.05=3150

3150*1.05=3,307.5