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? $150.00 + $159.00 + $168.00 $150.00 + $159.00 + $168.54 $159.00 + $168.00 + $177.00 $159.00 + $168.54 + $178.65

According to edjenuity, the answer was

D. $159.00 + $168.54 + $178.65

Increment = 6% = 0.06

The explicit formula for the series is;

C (n) = C (n-1) (1.06), where n = nth month, C (n-1) = cost during previous month, C (n) = cost in month n

Applying the explicit formula;

Current cost = $150

2nd month cost = 150*1.06 = $159

3rd month cost = 159*1.06 = $168.54

The second option is correct.