Answer:
price in 2025=21934 dollar
Step-by-step explanation:
increase in price=9% per year
price in 2018=12000 dollar
increase in amount between 2018 to 2019=[tex]\frac{09}{100}[/tex]×12000
increase in amount between 2018 to 2019=1080
price in 2019=12000+1080=13080
increase in amount between 2019 to 2020=[tex]\frac{09}{100}[/tex]×13080
increase in amount between 2019 to 2020=1177
price in 2020=13080+1147=14257
increase in amount between 2020 to 2021=[tex]\frac{09}{100}[/tex]×14257
increase in amount between 2020 to 2021=1283
price in 2021=12000+1080=15540
increase in amount between 2021 to 2022=[tex]\frac{09}{100}[/tex]×15540
increase in amount between 2021 to 2022=1399
price in 2022=15540+1399=16938
increase in amount between 2022 to 2023=[tex]\frac{09}{100}[/tex]×16938
increase in amount between 2022 to 2023=1524
price in 2023=16938+1524=18462
increase in amount between 2023 to 2024=[tex]\frac{09}{100}[/tex]×18462
increase in amount between 2023 to 2024=1661
price in 2024=18462+1661=16938=20123
increase in amount between 2024 to 2025=[tex]\frac{09}{100}[/tex]×20123
increase in amount between 2024 to 2025=1811
price in 2025=20123+1811=21934 dollar
