Gas prices are expected to rise 5% each week for the next six weeks. Kevin spent $52.50 to fill his tank this week. Which of the following represents the total amount Kevin can expect to spend to fill his tank over the next three weeks, if he fills his tank once a week?
Answer
A
$52.50 + $55.13 + $57.76
B
$52.50 + $55.13 + $57.88
C
$55.13 + $57.76 + $60.39
D
$55.13 + $57.88 + $60.78
Explanation
Each week’s cost is 1.05 times the previous week’s cost. Starting from $52.50, the next three weekly costs are $52.50 × 1.05 = $55.13, then $55.13 × 1.05 ≈ $57.88, then $57.88 × 1.05 ≈ $60.78, rounded to the nearest cent. Choice D represents those three costs.
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