Reference no: EM132020154

A. Your coin collection contains 54 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 2058, assuming they appreciate at an annual rate of 6.1 percent? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

Value of collection            $ _____________

B. In 1894, the first Green Jacket Golf Championship was held. The winner’s prize money was $250. In 2015, the winner’s check was $1,590,000.

What was the annual percentage increase in the winner’s check over this period? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)

Annual percentage             %_____________

C. If the winner’s prize increases at the same rate, what will it be in 2048? (Enter your answer in dollars, not millions of dollars, e.g., 1,234,567. Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

Prize money            $ ____________