Answer:
The collection is worth $4,535.35
Step-by-step explanation:
Giving the following information:
Your coin collection contains 50 1949 silver dollars. These coins have appreciated at a 7.6 percent annual rate.
According to the internet, the 1949 silver dollar had a face value of half a dollar.
We need to use the following formula:
FV= PV*(1+i)^n
PV= 50*0.25= $25
n= 71
i= 0.076
FV= 25*(1.076^71)= $4,535.35