Present value of first coin = $300 and
Present value of second coin = $300.
First coin increasing rate = 6% annually = 6/100 = 0.06 times each year.
Second coin increasing rate = 4.5% annually = 4.5/100 = 0.045 times each year.
We know final value formula = [tex]Initial \ value*(1+ \ rate \ at \ which\ value \ increase)^{number \ of \ years}[/tex].
Value of first coin after 15 years = [tex]300(1+0.06)^{15}[/tex] =[tex]300(1.06)^{15}.[/tex]
=300(2.39655819310) = 718.96745793
or 718.97 ( Upto two decimals).
Value of second coin after 15 years = [tex]300(1+0.045)^{15}=300(1.045)^{15}[/tex].
= 300(1.93528244) = 580.584732927
or 580.58 (upto teo decimal places).
Diffrenece in the value of the two coins 15 years from now = 718.97 - 580.58.
= $138.39.
Therefore, the diffrenece in the value of the two coins 15 years from now is $138.39
