Average annual inflation rate

Assignment Help Financial Management

Reference no: EM132003368

1. Your coin collection contains 40 1955 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 2059, assuming they appreciate at a 11 percent annual rate?

2. Assume that a gallon of milk costs $2.99 today. If the average annual inflation rate over the past 30 years was 2.75% p.a., what did a gallon of milk cost 30 years ago?

Reference no: EM132003368

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