Please Help...

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.

V = 25 + 25*0.0325*15 = $37.19.

To find out how much the coin will be worth in 15 years, we first need to calculate the annual increase in its value.

The annual increase is given as 3.25%, which means that for each year, the coin's value will increase by 3.25% of its current value.

To calculate the value of the coin after each year, we can use the following formula:

Value after each year = Current value + (Annual increase in percentage * Current value)

Let's apply this formula step by step:

1. Calculate the value after the first year:
Value after first year = $25 + (3.25/100) * $25
= $25 + 0.0325 * $25
= $25 + $0.8125
= $25.8125

2. Calculate the value after the second year:
Value after second year = $25.8125 + (3.25/100) * $25.8125
= $25.8125 + 0.0325 * $25.8125
= $25.8125 + $0.83715625
= $26.64965625

3. Repeat this calculation for each year until we reach 15 years.

After performing the above calculations for all 15 years, we find that the coin will be worth approximately $42.93 in 15 years when rounded to the nearest cent.