Last month, a 720 g box of cereal was sold at a grocery store for \( \$ 3.20 \). However, this month, the cereal manufacturer launched the same cereal in a 560 g box, which is being sold at \( \$ 2.80 \). What is the percent change in the unit price? Round to two decimal places

**Step 1. Compute the unit price for each box.** - **Last month:** The unit price is \[ \frac{3.20}{720} \approx 0.0044444 \text{ dollars per gram}. \] - **This month:** The unit price is \[ \frac{2.80}{560} = 0.005 \text{ dollars per gram}. \] **Step 2. Calculate the percent change in the unit price.** Use the formula for percent change: \[ \text{Percent Change} = \frac{\text{New Unit Price} - \text{Old Unit Price}}{\text{Old Unit Price}} \times 100\%. \] Substitute the values: \[ \text{Percent Change} = \frac{0.005 - 0.0044444}{0.0044444} \times 100\%. \] **Step 3. Perform the arithmetic.** Compute the difference in unit prices: \[ 0.005 - 0.0044444 = 0.0005556. \] Divide by the old unit price: \[ \frac{0.0005556}{0.0044444} \approx 0.125. \] Convert to a percentage: \[ 0.125 \times 100\% = 12.50\%. \] **Final Answer:** The percent change in the unit price is \(12.50\%\).