You are becoming addicted to World of Cowcraft, a popular MMORPG. After playing

Question

You are becoming addicted to World of Cowcraft, a popular MMORPG. After playing for a few hours, you estimate that in the next hour, you can produce 100 WoC gold. Due to your increasing skill level, you estimate that every hour thereafter your gold output will increase by 10.4% relative to the previous hour. If these estimates hold up, how much WoC gold in total can you mine in the next 50 hours of play (cumulatively for all 50 hours)? Will you ever get those hours of your life back? (Answer is 134,376.64)

Explanation / Answer

Answer:

The Gold in total that we can mine in next 50 hours shall be calculated by applying Future Value of Annuity Formula with Principal Amount 100 and interest rate 10.4%;

Total Gold in 50 hours = 100 x [{(1 + 0.104)50 - 1} / 0.104] = 134,376.64

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