Answer:
Final price = $1,055.25
Step-by-step explanation:
Given:
Original price = $1,050
Rate of increase = 0.5%
Find:
Final price
Computation:
Final price = Original price + [Original price x Rate of increase]
Final price = 1,050 + [1,050 x 0.5%]
Final price = 1,050 + 5.25
Final price = $1,055.25
