Question

The value of a gold coin picturing the head of the Roman Emperor Marcus Aurelius is increasing at the rate of 11% per year. If the coin is worth $115 now, what will it be worth in 11 years? PLEASE HELP!!

Answer 1

To add 11% to an amount means to multiply the amount by 1.11.

You can start with $115 and multiply it by 1.11 eleven times.

A quicker way is to find 1.11^11 and then multiply by $115.

$115 * 1.11^11 = $115 * = 3.151757 = $362.45