food costs are expected to rise 6% each month for the next year. Which series correctly depicts the cost (to the nearest cent) for the next three months if the current cost is $150 per month?
For this case we have the following equation: y = 150 * (1.06) ^ t For the first month we have: y = 150 * (1.06) ^ 1 y = 159 $ For the second month we have: y = 150 * (1.06) ^ 2 y = 168.54 $ For the third month we have: y = 150 * (1.06) ^ 1 y = 178.65 $ Answer: d. $ 159.00 + $ 168.54 + $ 178.65
