20-CS-110-001 Introduction to Computer Science Fall 2010

Pencil Prices Puzzle

    The price of pencils has skyrocketed in recent years. Each year the price has increased, and for the last seven years (including this year) the new price is the sum of the prices for the two previous years. Last year, a pencil cost $0.60.

How much does a pencil cost today?

How much did a pencil cost seven years ago?