To find out how much the price will increase and the cost of the next model, we need to follow these steps:
1. Identify the current model cost and the percentage increase:
- Current model cost = [tex]$35,000
- Percentage increase = 4.1%
2. Convert the percentage increase to a decimal for ease of calculation:
- 4.1% as a decimal is 0.041
3. Calculate the increase in price:
\[
\text{Increase in price} = \text{current model cost} \times \text{percentage increase}
\]
Substituting the values:
\[
\text{Increase in price} = 35000 \times 0.041 = 1434.9999999999998
\]
Therefore, the increase in price is $[/tex]1434.9999999999998, which can be approximated as [tex]$1435.00.
4. Calculate the cost of the next model by adding the increase to the current model cost:
\[
\text{Next model cost} = \text{current model cost} + \text{increase in price}
\]
Substituting the values:
\[
\text{Next model cost} = 35000 + 1434.9999999999998 = 36435.0
\]
So, the final answers are:
- Increase in price: $[/tex]1434.9999999999998
- Price of next model: $36435.0
