Your coin collection contains ten 1949 silver dollars. If your grandparents purchased the coins for their face value when they were new, how much will your collection be worth when you retire in 2065, assuming the coins appreciate at an annual rate of 5.1 percent

$ 3,205.64  

Explanation:

The collection initially was $10 in 1949

The value in 2065 can be determined using the future value formula below:

FV=PV(1+r)^n

PV is the initial amount of $10

r is the annual appreciation rate of coins which is 5.1% annual rate

n is the number of years the collection has been held i.e 2065-1949=116 years

FV=$10*(1+5.1%)^116

FV=$10*(1+0.051)^116

FV=$10*(1.051)^116

FV=$ 3,205.64  

Ultimately the collections would worth $ 3,205.64  in the year 2065 which is 116 years after the collection was purchased by the grandparents