Answered

the average cost of jeans in the us is around $50. if the cost of jeans increases by 2% per year, what will be the cost of jeans in 25 years? what did jeans cost 20 years ago?

Answer :

Diatonic254

$ 82.03  in 25 yrs

$ 74.30 in 20 yrs

Step-by-step explanation:

Every year, the cost of the jeans increases by 2% which is equivalent to 0.02 in decimal points. The get the cost of the jean for every year we are multiplying the principle cost by;

100 % + 2% = 102% OR 1.02 in decimal

This increase occurs 25 time for 25 years. Therefore;

1.02 ^ 25 * 50

= 1.641 * 50

= $ 82.03

To get the price in 20 years;

1.02 ^ 20 * 50

= 1.486 * 50

= $ 74.30

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