Question

If I raise the price of a $1.00 item 5% each week until the price reaches $1.80 what equation would I use to solve this problem?

Answer 1

1+X(.05)=1.80
x(.05)=.8
x=.8/.05

Answer 2

x=16 weeks

Answer 3

The weekly prices would form a geometric sequence, you would be multiplying 1.05 each week in order to raise price 5%.
Use definition of geometric sequence.
\[a_{n} = a_{1}*r^{n-1}\]
a1 = 1
r = 1.05
a_n = 1.80
Solve for n

Answer 4

You will have to use logs

Answer 5

you said the answer was 12?
i get n = 13.05
it depends i guess if the first week is 1 or does it include the 5% increase in 1st week??

Answer 6

first week includes the 5%

Answer 7

does that work out