Multiple Choice
You own a stamp collection that is currently valued at $24,500. If the value increases by 5.5% annually, how much will the collection be worth when you retire 40 years from now?
A) $204,113.07
B) $204,981.16
C) $205,155.45
D) $206,666.67
E) $208,576.07
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q126: You hope to buy your dream house
Q140: The higher the discount rate, the higher
Q141: What is the rate needed (compounded annually)
Q142: Provide a definition of simple interest.
Q143: Chia Burgers began operations by opening 115
Q144: $15,000 is invested into a plan earning
Q146: The Blackwell Co. expects to receive $135,000
Q147: Compounding is the process of finding the
Q148: Sampson, Inc. invested $1.325 million in a
Q150: You have just landed your first job.