SOLUTION: a hamburger cost $1.10 and the price continues to rise at the rate of 10% a year for the next 5 years. what will be the price of a hamburger at the end of 5 years?

SOLUTION: a hamburger cost $1.10 and the price continues to rise at the rate of 10% a year for the next 5 years. what will be the price of a hamburger at the end of 5 years?

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Question 290316: a hamburger cost $1.10 and the price continues to rise at the rate of 10% a year for the next 5 years. what will be the price of a hamburger at the end of 5 years?
Answer by checkley77(12844) (Show Source): You can put this solution on YOUR website!
1.10(1+.10)^5
1.10(1.10)^5
1.10*1.61=$1.77 ANS.
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