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Analysis on Financial Manangement Questions

Questions 1:

(1) Your coin collection contains 40 1957 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 2040, assuming they appreciate at a 10 percent annual rate?

Question 2:

(2) Your coin collection contains 40 1957 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 2040, assuming they appreciate at a 10 percent annual rate?

Question 3:

(3) You have just made your first $2,500 contribution to your retirement account. Assuming you earn an 11 percent rate of return and make no additional contributions.

Required:

(a)        What will your account be worth when you retire in 35 years?

(b)        What will your account be worth if you wait 8 years before contributing?

 

 

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