Your coin collection contains ten 1939 silver dollars.If your great grandparents purchased them for their face value when they were new,how much will your collection be worth when you retire in 2050,assuming they appreciate at a 5.1 percent annual rate?
A)$2,243.63
B)$2,329.29
C)$2,348.98
D)$2,499.78
E)$2,644.29

Question

Quizplus · Accepted Answer

Future value = $10 × (1 + 0.051)^{(2050 - 1939)} = $2,499.78

Your Coin Collection Contains Ten 1939 Silver Dollars