SOLUTION: You buy a commemorative coin for $25. The value of the coin increases 3.25% per year. How much will the coin be worth in 15 years? Round to the nearest cent.

Algebra ->  Exponential-and-logarithmic-functions -> SOLUTION: You buy a commemorative coin for $25. The value of the coin increases 3.25% per year. How much will the coin be worth in 15 years? Round to the nearest cent.      Log On


   

Question 615885: You buy a commemorative coin for $25. The value of the coin increases 3.25% per year. How much will the coin be worth in 15 years? Round to the nearest cent.
Found 2 solutions by solver91311, stanbon:
Answer by solver91311(24713) About Me  (Show Source):
You can put this solution on YOUR website!




Use your calculator. Don't forget to round appropriately.

John

My calculator said it, I believe it, that settles it
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Answer by stanbon(75887) About Me  (Show Source):
You can put this solution on YOUR website!
You buy a commemorative coin for $25. The value of the coin increases 3.25% per year. How much will the coin be worth in 15 years? Round to the nearest cent.
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A(n) = 25*(1.0325)^n
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A(15) = 25*(1.0325)^15 = $40.39
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Cheers,
Stan H.
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