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your coin collection 51 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 2061, assuming they appreciation at annual rate of 4.2 percent

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facundobuzzetti

Answer:

FV= $4,520.14

Explanation:

Giving the following information:

Face value= $51

Number of years= 2061 - 1952= 109

Appreciation rate= 4.2%= 0.042

To calculate the future value of the coins, we need to use the following formula:

FV= PV*(1+i)^n

FV= 51*(1.042^109)

FV= $4,520.14

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