Question

your coin collection contains fifty 1952 silver dollars. If your grandparents purchase for ttheir face value when they wee new, how much will your collection

Answer 1

Answer:

Hello your question lacks some vital information here is the complete question

Your coin collection contains fifty 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 2060, assuming they appreciate at a 4.1 percent annual rate?

Answer : $3,833.97

Step-by-step explanation:

Given data :

fifty (50) 1952 silver dollars

interest rate (appreciation rate) : 4.1%

How much will the collection be worth in 2060

we can calculate this by applying this formula

FV = PV ( 1 + r )^t

r = 0.041

Pv = $50

t = 108 ( 2060 - 1952 )

Fv = $50 ( 1.041)^108  = $3833.97