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Question

Fidel has a rare coin worth $550.

Each decade, the coin's value increases by 10%.

Which expression gives the coin's value, 6 decades from now?


A

550·0.16

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B

5501+0.16

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C

550+0.16

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D

550+1+0.16+1+0,16

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Solution

The correct option is B

5501+0.16


Explanation for correct option (s):

Given data:

Fidel has a rare coin worth $550.

Each decade, the coin's value increases by 10%.

To find Which expression gives the coin's value,6 decades from now.

The given situation represents the exponential function as,

y=a1+rn

where, a is the initial value that can be expressed as a=$550

r is the increased rate that can be expressed as r=10%

n is the time that can be expressed as n=6

Substitute the value in the formula,

y=5501+10%6y=5501+101006y=5501+0.16

Therefore, the correct answer is option B.


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