Answer to Question #100674 in Algebra for Miguel

Question

Find the value of the coins after 10,20,30,and 60 years use the function you identified I'm question 3 to calculate the value

Answer 1

For example, we have $x$ coins and function: $f(x)=x+0.1x \cdot \,year$ (that is,+10% per year).

To calculate the function for $x$ coins after 10, 20, 30 and 60 years (simple interest) we will use the following formula:

$$X= x + x \cdot 0.1 \cdot Y$$

where Y is a period of time (10, 20, 30 and 60).

To calculate the function for $x$ coins after 10, 20, 30 and 60 years (compound interest) we will use the following formula:

$$X=x \cdot (1+0.1)^Y$$

where Y is a period of time (10, 20, 30 and 60).