Question

jan pays $640 per month for rent. if the rate of inflation is 5%, how much can jan expect to pay monthly next year?

Answer 1

To find the answer, find 5% of 640 then add that to 640.

5% is equivalent to 5/100, or 1/20

Multiply 640 by 1/20, which is the same as dividing 640 by 20.

640 ÷ 20 = 32

Now add 32 to 640

640 + 32 = 672

Jan can expect to pay $672 monthly next year.

If you have any further questions feel free to ask.

Hope this helps.