0
What is the cost in 4 years time if the average cost for a new midsized car is about USD 31000 and new car prices tend to go up about 2 percent every year?
If the price increases by 2% each it will be 100 % of the old price + 2 % of the old price = 102 % of the old price each year
percent means "out of 100"
→ 102 % = 102/100 = 102 ÷ 100 = 1.02
Thus to find the price next year, take the price this year and multiply it by 1.02
To find the price after 1 year, multiply the current price by 1.02 giving
price after 1 year ≈ current price × 1.02
To find the price after 2 years, multiply the price after 1 year by 1.02, giving:
price after 2 years ≈ price after 1 year × 1.02
= current price × 1.02 × 1.02
= current price × 1.02²
To find the price after 3 years, multiply the price after 2 years by 1.02, giving:
price after 3 years ≈ price after 2 years × 1.02
= current price × 1.02² × 1.02
= current price × 1.02³
From this it can be seen that the price after n years ≈ current price × 1.02ⁿ
Thus for the car which starts at $31,000: price after n years ≈ $31,000 × 1.02ⁿ
Therefore after 4 years the price will be approx 31,000 × 1.02⁴ ≈ $33,555
What else can I help you with?
8000000000 divided by 31000?
258064.5161
What is the answer to 0.3 divided by 0.129?
2.3256
What are All the multiple of 500?
The multiples of 500 are numbers that can be divided evenly by 500. These include 500, 1000, 1500, 2000, and so on. The pattern is that each multiple is obtained by multiplying 500 by a whole number. In mathematical terms, the multiples of 500 can be expressed as 500n, where n is any integer.
What is 4 percent of 31000?
4 percent of 31000 is 1240.
What is 5.7 percent of 31000?
5.7% of 31,000= 5.7% * 31000= 0.057 * 31000= 1,767
What is 20 percent of 31000?
6200
What is the percent form of 310?
31000%
What is 5 percent of 31000?
1550
What is 16 percent of 31000?
4960
What is 22 percent of 31000?
6820
What is 9 percent of 31000?
9 percent of 31,000 is 2,790.
What is the average salary for a florist?
The average salary of a florist is between $16000 and $31000 per year.
SPCA animal inspectors salary?
average 31000 USD
What is the square root of 31000?
I think the square root of 31000 is 176.06816861659.
Can you qualify for EIC as head of household making 31000-33000 with 3 dependents?
31000
