## Math Problem Statement

In 2000, the balance on Martin's credit card increased by 40%. In 2001, the balance increased by 20%. How does the balance at the end of 2001 compare to the balance at the beginning of 2000?

Question 6 options:

It is 68% higher.

It is 80% higher.

It is 60% higher.

It is 52% higher.

## Solution

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## Math Problem Analysis

### Mathematical Concepts

Compound Growth

Percentage Increase

### Formulas

B_end_2000 = B * (1 + 0.40)

B_end_2001 = B_end_2000 * (1 + 0.20)

B_end_2001 = B * 1.68

### Theorems

Compound Interest Theorem (applied to percentage increases)

### Suitable Grade Level

Grades 8-10

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