Question
In a budget plan, fixed expenses were $475. They have gone up 5%. What will the updated total fixed expenses be?
Answers
GPT 3.5
To calculate the updated total fixed expenses, we first need to find the increase in fixed expenses due to the 5% increase.
Increase = $475 * 5% = $475 * 0.05 = $23.75
Now we can calculate the updated total fixed expenses by adding the increase to the original fixed expenses:
Updated Total Fixed Expenses = $475 + $23.75 = $498.75
Therefore, the updated total fixed expenses will be $498.75.
Increase = $475 * 5% = $475 * 0.05 = $23.75
Now we can calculate the updated total fixed expenses by adding the increase to the original fixed expenses:
Updated Total Fixed Expenses = $475 + $23.75 = $498.75
Therefore, the updated total fixed expenses will be $498.75.