food costs are expected to rise 6% each month for the next year. which series correctly depicts the cost (to…

food costs are expected to rise 6% each month for the next year. which series correctly depicts the cost (to the nearest cent) for the next three months if the current cost is $150 per month?\n$150.00 + $159.00 + $168.00\n$150.00 + $159.00 + $168.54\n$159.00 + $168.00 + $177.00\n$159.00 + $168.54 + $178.65

food costs are expected to rise 6% each month for the next year. which series correctly depicts the cost (to the nearest cent) for the next three months if the current cost is $150 per month?\n$150.00 + $159.00 + $168.00\n$150.00 + $159.00 + $168.54\n$159.00 + $168.00 + $177.00\n$159.00 + $168.54 + $178.65

Answer

Explanation:

Step1: Calculate cost for first - month

The cost increases by 6% each month. The formula for the new cost $C_n$ after a percentage increase is $C_n=(1 + r)C_{n - 1}$, where $r$ is the rate of increase and $C_{n - 1}$ is the previous - month cost. For the first month, with $C_0 = 150$ and $r=0.06$, we have $C_1=(1 + 0.06)\times150=1.06\times150 = 159$.

Step2: Calculate cost for second - month

Using the formula $C_n=(1 + r)C_{n - 1}$ again, with $C_1 = 159$ and $r = 0.06$, we get $C_2=(1 + 0.06)\times159=1.06\times159=168.54$.

Step3: Calculate cost for third - month

Using the formula $C_n=(1 + r)C_{n - 1}$ with $C_2 = 168.54$ and $r = 0.06$, we have $C_3=(1 + 0.06)\times168.54=1.06\times168.54 = 178.6524\approx178.65$.

Answer:

$159.00 + 168.54+178.65$