Your coin collection contains 41 1952 silver dollars. If your grandparents purch
ID: 2740843 • Letter: Y
Question
Your coin collection contains 41 1952 silver dollars. If your grandparents purchased them for their face value when they were new, how much will your collection be worth when you retire in 2051, assuming they appreciate at a 6.0 percent annual rate? (Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16))
Your coin collection contains 41 1952 silver dollars. If your grandparents purchased them for their face value when they were new, how much will your collection be worth when you retire in 2051, assuming they appreciate at a 6.0 percent annual rate? (Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16))
Explanation / Answer
Working: 2051-1952= 99
FV = PV (1 + r)t FV = $41 * (1.06)99 = $13,123.95Related Questions
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