### Home > GB8I > Chapter 9 Unit 10 > Lesson INT1: 9.1.3 > Problem9-37

9-37.

The increased demand for vegetarian meals has caused an increase in the price of tofu. If the cost of tofu is currently $$2.99$ per pound, and is increasing by $6$% per year, what will it cost in $5$ years? Use the Compound Interest formula: $t(n) =\text{ Initial Amount }· (1 +\text{ rate})^n$$$4.00$