Problem 4-12 Calculating Future Values [LO 1]

Your coin collection contains 75 1952 silver dollars.

Required:

If your grandparents purchased them for their face value when they were new, how much will your collection be worth when you retire in 2049, assuming they appreciate at an annual rate of 5.3 percent? (Enter rounded answer as directed, but do not use rounded numbers in intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).)

Value of collection

$