How do you do this : A coin collection is purchased for $1,000. Twenty years later, the owner is told that the collection is worth quite a bit of money! If the rate of return on the stamp collection is 4% per year, what is the current value of the stamp collection? In your final answer, include all of your calculations.

Question

Cailyn Hahn

23 November, 15:57

+4

Answers (1)

Know the Answer?

Eden Daugherty · Answer 1

Eden Daugherty 23 November, 17:57

0

1000 times (1.04) ^20 = $2,191.