Final answer:
The student's question about the increase in value of a gold coin involves using percentage change and compound interest mathematics to calculate the new value after one month, similar to interest calculations in a bank account.
Step-by-step explanation:
The question involves calculating the increase in value of an investment, which in this case is a gold coin. The student is asked to determine the monthly growth of the coin's value, which can be done using the principles of percentage change and compound interest similar to how interest accumulates in a bank account. To calculate the new value of the coin after one month, you would multiply the current value by 1 plus the percentage increase expressed as a decimal.
Example:
Initial value of the gold coin = $45
Monthly increase = 2.3%
To find the value after one month: $45 × (1 + 0.023) = $45 × 1.023 = $46.035
This calculation shows that after one month, the gold coin's value would increase to $46.035.