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.

asked by kyle

5 years ago

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1 answer

coin?...stamp?

1,000 * (1 + .04)^20

answered by R_scott

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Question

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.

1 answer

coin?...stamp?

1,000 * (1 + .04)^20

R_scott · Answer

coin?...stamp? 1,000 * (1 + .04)^20