Your coin collection contains fifty-four 1941 silver dollars.Your grandparents purchased them for their face value when they were new.These coins have appreciated at a 10 percent annual rate.How much will your collection be worth when you retire in 2060?
A)$3,611,008
B)$3,987,456
C)$4,122,394
D)$4,421,008
E)$4,551,172

Question

Quizplus · Accepted Answer

FV = $54 × (1.10)¹¹⁹ = $4,551,172

Your Coin Collection Contains Fifty-Four 1941 Silver Dollars