Question

At the beginning of this year, you went out and purchased $300 worth of gold coins. Every 3 months for the next 8 years, you purchase an additional $300 worth of coins. At the end of the first 3 years, the price of gold starts to come back down, and when you decide to cash out, your coins are only worth what you paid for them. What is the value of your account now? $28,500 $28.800 ООО $2,400 $9.900

Answer 1

you bought coins 4 times every year. In 8 years you bought 32 times coins

therefore your account has:

`300+32\cdot300=300+9600=9900`

so you have in your account $9900