SOLUTION: A hamburger cost $1.50 and the price continued to rise at a rate of 7% a year for the next 8 years. What will the price of a hamburger be at the end of 8 years (to the nearest penn

Question 608417: A hamburger cost $1.50 and the price continued to rise at a rate of 7% a year for the next 8 years. What will the price of a hamburger be at the end of 8 years (to the nearest penny) ?
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
A hamburger cost $1.50 and the price continued to rise at a rate of 7% a year for the next 8 years. What will the price of a hamburger be at the end of 8 years (to the nearest penny) ?
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1.50(1.07)^8 = 1.5*1.782 = $2.58
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Cheers,
Stan H.
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