Today Meghan Brown purchased an investment grade gold coin for $200,000. She expects it to increase in value at a rate of 5% compounded annually for the next 5 years. How much will the coin be worth at the end of the fifth year?
Homework Answers
These are financial calculator functions
put values as follow
N=5
I/Y=5
PV=200000
PMT=0
Click CPT
Click FV=255256.31 is the answer..
using another method as
FV=PV*(1+r)^n
=200000*(1+5%)^5
=255256.31
the above is answer..
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