Hello!

I'm stuck on one question. Before answering, please explain the steps which will help me figure out 2 additional questions myself. Thank you!

Question: You are considering taking piano lessons that if begun today will cost $10,000.Alternatively, you could wait a year to begin the lessons after paying the fee (that is likely to be higher) at that time.

a)If you decide to wait a year and invest the $10,000 during the year, earning an annual interest rate i (i as in indigo), describe how would you determine the extra money you would have at the end of the year after paying the inflated cost of lessons at that time?