Question

Your coin collection contains 45 1945 silver dollars. If your grandparents purchased them for their face...

Your coin collection contains 45 1945 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 2036, assuming they appreciate at an annual rate of 6 percent?

Business   Finance   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1
Future value FV= PV × (1+r)^N
Where as:
Present value PV=                                 45
Rate of interest r= 6.00%
Number of years N=                           91.00
Future value FV= 45 × (1+0.06)^91
FV=                     9,037.46

Answer is $9,037.46

Please rate.

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Your coin collection contains 44 1946 silver dollars. If your grandparents purchased them for their face...
Your coin collection contains 44 1946 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 2058, assuming they appreciate at an annual rate of 7 percent? Your coin collection contains 44 1946 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 2058, assuming they appreciate at...
Your coin collection contains 48 1943 silver dollars. If your grandparents purchased them for their face...
Your coin collection contains 48 1943 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 2038, assuming they appreciate at an annual rate of 11 percent?
Your coin collection contains fifty 1952 silver dollars. If your grandparents purchased them for their face...
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 2063, assuming they appreciate at an annual rate of 4.8 percent? Value of collection ___________
Your coin collection contains 58 1952 silver dollars. If your grandparents purchased them for their face...
Your coin collection contains 58 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 2054, assuming they appreciate at an annual rate of 6.5 percent? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Value of Collection? Please include step by step financial calculator instructions if possible :)
Your coin collection contains 61 silver dollars minted in 1958. If your grandparents purchased them for...
Your coin collection contains 61 silver dollars minted in 1958. If your grandparents purchased them for their face value when the year they were minted, how much will your collection be worth when you retire in 2072, assuming they appreciate at a 5 percent annual rate? (Round time value factors to 6 decimal places and final answer to the nearest dollar amount.)
Calculating Future Values. Your coin collection contains fifty 1952 silver dollars. If your grandparents purchased them...
Calculating Future Values. 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 2067, assuming they appreciate at an annual rate of 4.3 percent? Calculating Interest Rates and Future Values. In 1895, the first U.S. Open Golf Championship was held. The winner’s prize money was $150. In 2016, the winner’s check was $1,800,000. What was the percentage increase...
1. Julia purchased an investment grade gold coin today for $375,000. She expects it to increase...
1. Julia purchased an investment grade gold coin today for $375,000. She expects it to increase in value at a rate of 4.5% compounded annually for the next 6 years. How much will the coin be worth at the end of the sixth year? N I/Y PV PMT FV                                                                                                    2. Moon has been investing $2,500 quarterly for the past 10 years in an equity mutual fund. How much is the fund worth now assuming she has earned 8.5% compounded...
Abercrombie​ & Fitch, once the favorite of loyal​ teens, is considering lowering prices on all items...
Abercrombie​ & Fitch, once the favorite of loyal​ teens, is considering lowering prices on all items it sells in an effort to win them back after several years of sales declines.​ A&F's total sales were ​$6 billion last​ year, but they have been declining in the face of a weak economy and an intensively competitive retail environment. Price reductions are often effective in increasing​ sales, but marketers need to analyze how much sales must go up before a price reduction...
1. After carefully going over your budget, you have determined you can afford to pay $632...
1. After carefully going over your budget, you have determined you can afford to pay $632 per month toward a new sports car. You call up your local bank and find out that the going rate is 1 percent per month for 50 months. How much can you borrow? 2. Suppose you wish to start up a business that specializes in the latest health food trend, frozen milk. To produce and market your product, the Yakee Doodle Dandy, you need...
Abercrombie​ & Fitch, once the favorite of loyal​ teens, is considering lowering prices on all items...
Abercrombie​ & Fitch, once the favorite of loyal​ teens, is considering lowering prices on all items it sells in an effort to win them back after several years of sales declines.​ A&F's total sales were ​$6 billion last​ year, but they have been declining in the face of a weak economy and an intensively competitive retail environment. Price reductions are often effective in increasing​ sales, but marketers need to analyze how much sales must go up before a price reduction...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT