Question

over the past 4 months, the amount we paid for postage increased 1% per month. this past month, we paid a total of $64.49 for postage, so i guess i should plan on paying ____ for postage this coming month

Answer 1

Answer:

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Answer 2

Solution :-

→ Amount paid for postage in past month = $64.49

→ Rate of increasing per month = 1%

so,

→ Amount paid for postage in this month = 64.49 * (1 + 1/100) = 64.49 * (101/100) = (64.49 * 1.01) ≈ $65.13

now,

→ Amount paid for postage in this month = $(64.49 * 1.01)

→ Rate of increasing per month = 1%

so,

→ Amount paid for postage in next month = (64.49 * 1.01) * (1 + 1/100) = (64.49 * 1.01) * (101/100) = (64.49 * 1.01) * 1.01 = 64.49 * (1.01)² = 64.49 * 1.0201 ≈ $ 65.79

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