Question

Oil prices are projected to increase by 75% by next May. A quart of oil currently costs $2.15. What is the projected cost of a gallon of oil next May? Round your answer to the nearest hundredth.

Answer 1

15.05

Explanation:

Answer 2

Future cost per gallon= $15.05

Explanation:

Giving the following information:

Oil prices are projected to increase by 75% by next May. A quart of oil currently costs $2.15.

We know that 1 quart equals 0.25 gallons.

First, we will determine the actual cost per gallon.

Actual cost per gallon= 2.15*4= $8.6

Now, the cost for May:

Future cost per gallon= 8.6*1.75

Future cost per gallon= $15.05