Question

CAN SOMEONE PLEASE ANSWER THIS! IM DESPERATE! 40 PTS



please try to explain your explanation fully because I don't understand this:


The value of a precious gold coin is increasing at the rate of 5% per year. If the gold coin is worth $105 today, what will it be worth in 11 years?

I also don't understand how the common ratio is 1.05 if 5% is .05 as a decimal.

Answer 1

for me i'm getting $57.75

Answer 2

The answer to your question is 162.75