SOLUTION: A recently released collectible quarter, worth 25 cents now, is expected to increase in value by 8% per year. How much is the coin expected to be worth in 109 years?

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Question 978768: A recently released collectible quarter, worth 25 cents now, is expected to increase in value by 8% per year. How much is the coin expected to be worth in 109 years?
Found 3 solutions by Theo, Alan3354, josmiceli:
Answer by Theo(13342)   (Show Source):
You can put this solution on YOUR website!
.25 * 1.08^109 = 1099.333232

Answer by Alan3354(69443)   (Show Source):
You can put this solution on YOUR website!
A recently released collectible quarter, worth 25 cents now, is expected to increase in value by 8% per year. How much is the coin expected to be worth in 109 years?
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FV = 25*1.08^109
= 109933 cents
= $1099.33
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There's a good chance you'll lose it in 109 years, tho.

Answer by josmiceli(19441)   (Show Source):
You can put this solution on YOUR website!
For now, let = the starting value of the coin
After 1 year:
Value =
After 2 years:
Value =
Value =
Value =
After 3 years:
Value =
After 109 years:
Value =
Take the log of both sides

The coin will be worth $1,099.36 in 109 years
check:
Value =
Value =
Value =
Value =
OK